Bitcoin bursts above $65,000, record high

LONDON/SINGAPORE, Mar 04 (Reuters): Bitcoin rallied to a two-year high on Monday, breaking above $65,000 as a wave of money carried it within striking distance of record levels.

The price hit a session high of $65,537 early in Europe, having already hit a new two-year high in Asian trading. It was last up 4 per cent at $65,045. Bitcoin hit a record $68,999.99 in November 2021.

The largest cryptocurrency by market value has gained 50 per cent this year and most of the rise come in the last few weeks where inflows into US-listed bitcoin funds have surged. Spot bitcoin exchange-traded funds were approved in the United States earlier this year. Their launch opened the way for new large investors and has re-ignited enthusiasm and momentum reminiscent of the run up to record levels in 2021.