SINGAPORE (Reuters) – Cryptocurrency bitcoin hit a two-year excessive above $57,000 in Asia commerce on Tuesday on indicators of heavy institutional shopping for, whereas smaller rival ether topped $3,200 for the primary time in two years.
Bitcoin has rallied greater than 10% in two periods, helped by a Monday disclosure from crypto investor and software program agency MicroStrategy that it had lately bought about 3,000 bitcoins for an outlay of $155 million.
The unique and largest cryptocurrency by market worth has additionally been buoyed lately by the approval of bitcoin-owning exchange-traded funds (ETFs) in america. On Monday, buying and selling volumes in a number of of the funds spiked and crypto-linked companies rallied too, in distinction to nervous broader markets.
(Reporting by Tom Westbrook; Modifying by Tom Hogue)
