On Wednesday, the price of the oldest and best-known digital asset, Bitcoin, rose just above the $30,000 mark. On the Bitfinex trading platform, 30,034 dollars were paid for one Bitcoin at a high. The day before, the price was still well below the round mark. Ethereum, the second-largest internet currency by market value, also gained significantly, climbing towards $2,000.
“For fear of another bank quake, investors are once again turning to investment alternatives such as Bitcoin,” commented crypto specialist Timo Emden from Emden Research. Recently, the quarterly results of the ailing US bank First Republic and a significant withdrawal of customer funds had caused renewed uncertainty among investors. The traditional stock exchanges were also affected.
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During the banking turmoil surrounding Silicon Valley Bank (SVB) a good month ago, investors had already headed for the cryptocurrencies that emerged in the course of the severe financial crisis in 2008. Bitcoin and other digital values are considered alternative currencies, especially by critics of the conventional financial system. In times of stress in the banking sector, they are therefore often very popular.
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FRANKFURT (dpa-AFX)
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