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The Guardian - UK
The Guardian - UK
Technology
Dan Milmo Global technology editor

Bitcoin: what has caused the cryptocurrency’s latest revival?

Bitcoin Cryptocurrency United States Crypto Neil Wilson SEC
A bitcoin on top of a pile
A major factor has been the approval by the US financial regulator in January of exchange-traded funds that track bitcoin’s price. Photograph: Chesnot/Getty Images

Bitcoin, the cornerstone of the cryptocurrency market, has reached a new record value more than two years after its previous peak. On Tuesday, the digital asset passed its previous peak from November 2021 of just under $69,000, although it later eased back to a little above $64,000.

Bitcoin is now worth about $1.3tn, a substantial chunk of the total $2.6tn cryptocurrency market. Here are the factors behind its latest revival.

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