Crypto enthusiasts believe bitcoin could soon eclipse its previous record high of close to $US74,000 amid growing cheer about interest rate cuts and hopes of looser regulations.
The largest digital currency, bitcoin, broke back through the $US70,000 barrier this week, as optimism about US interest rates surged and there were growing signs the crypto industry is making headway in its campaign for a lighter regulatory touch.
The steep fall in US bond yields in the past six days has spurred huge inflows into spot exchange traded funds (ETFs) that hold the token.
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Karen Maley writes on banking and finance, specialising in financial services, private equity and investment banking. Karen is based in Sydney. Connect with Karen on Twitter. Email Karen at karen.maley@afr.com
