Bitcoin fluctuates in Swiss francs briefly after rebounding to the new ATH

After hitting an all-time high of close to $67,000 early on Wednesday, the market value of Bitcoin briefly exceeded the total market value of Swiss francs.

According to data from Fiatmarketcap, when the price of crypto assets reached a record high of approximately US$67,000 early Wednesday, the market value of Bitcoin exceeded US$1.263 trillion. This briefly exceeded the circulating supply value of Swiss francs of 1,158,489,000,000 Swiss francs, or approximately US$1.26 trillion. AssetDash also List Total Bitcoin (Bitcoin) The market value is within 500 billion U.S. dollars of Amazon.

The value of Swiss francs that led to the rise in the price of Bitcoin appeared when exchange-traded funds or ETFs linked to crypto futures were approved for trading on major U.S. stock exchanges. ProShares’ Bitcoin Strategy ETF begins Trading on the New York Stock Exchange On October 19, BTC rose to over US$63,000 for the first time in months.

In addition, documents filed with the U.S. Securities and Exchange Commission indicate that similar stocks ETF from Valkyrie, a crypto asset management company VanEck, an asset management company, may soon appear on the exchange.Regulators have not yet approved any BTC futures ETF application by Invesco, among which Global X and Galaxy Digital is also waiting for approval Direct access to cryptocurrency funds.

related: The great cryptocurrency flip: can Ethereum surpass Bitcoin?

The market value of Bitcoin has exceeded the total value of many fiat currencies.Recently, it Flip the Russian Ruble In February, the automaker Tesla announced that it had Purchased a total of 1.5 billion U.S. dollars in Bitcoin And it is recommended that its customers can use encrypted assets to purchase its products soon. The Brazilian real with a market value of more than US$1.5 trillion will be the next one that Bitcoin may surpass.

Although the price of ether (Ethereum) return Rebounded above $4,000 Since May, BTC has become the asset with the highest market value for the first time, with a market value of US$750 billion higher than ETH. At the time of release, there are currently 18,849,193 BTC in circulation.