The price of Bitcoin has surpassed C$100,000 for the first time, according to data provided by the Kraken exchange.
The Canadian dollar recently gave up some ground against its US counterpart following a 50-basis point rate cut implemented by the Bank of Canada on Oct. 23. At press time, it is trading at 72 cents.
The cryptocurrency's previous lifetime peak of $98,462 was logged back in March.
Notably, It has also hit a new all-time high of €67,443. "The 350 million citizens of the Eurozone just experienced a new all-time high for Bitcoin," analyst Tuur Demeester said in a recent social media post.
The leading cryptocurrency is yet to reach a new all-time high in US dollars. Earlier today, it climbed to a new peak of $72,692 on the Bitstamp exchange. However, it is still 1.5% away from reaching a new all-time high.
Bitcoin hit its current peak of $73,737 due to exuberance surrounding the success of Bitcoin exchange-traded funds in early 2024.
Vladislav Sopov
Tomiwabold Olajide
Dan Burgin