Amid the continuous rally, the cryptocurrency Bitcoin has climbed up the ranks to become the world's eighth most valuable asset by market capitalisation, surpassing silver.
Notably, since the spot bitcoin exchange-traded funds were approved in the US, the cryptocurrency is steadily rising.
Bitcoin led a major rally for cryptocurrency prices and related stocks on Tuesday as it bolted above $57,000 for the first time since November 2021, reports said.
With Union Finance Minister Nirmala Sitharaman set to unveil the Interim Union Budget 2024 on February 1, anticipation by various industries is high.
The world's biggest cryptocurrency Bitcoin touched a 19-month high above $42,000 which was triggered by some "panic buying", reports said on Tuesday.
Industry players said the surge in the market cap indicates a wider acceptance of crypto assets across the globe, including in India.
The announcement has backed Doge’s vale and pushed ETH and BTC in a northwards direction.
Britain’s financial regulator earlier said Binance could not conduct any regulated activity in the United Kingdom.
The value of various major cryptocurrencies tumbled drastically after China’s intensified crackdown on Bitcoin mining.
Meanwhile, cryptocurrency and blockchain technology has already won the approval of global artistes like 50 Cent, Mariah Carey, G-Eazy, Sia, Fall Out Boy, the Backstreet Boys and Lana Del Rey among others.
