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Fortune

Marco Quiroz-Gutierrez

Bitcoin surpasses $25,000 after SVB collapse, CPI report

Bitcoin Crypto Silicon Valley Bank US Federal Reserve

(Credit: Photo Illustration by Fortune)

Silicon Valley Bank’s loss appears to be Bitcoin’s gain.

The most popular cryptocurrency is up more than 10%, to just under $26,000 over the last day. Bitcoin was trading at $26,500, a nine-month high, early Tuesday before retreating. Ether, the second-leading coin, was up 6%, to $1,747, after paring gains from a seven-month high of $1,773, according to CoinMarketCap.

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