Bitcoin (BTC) has achieved a remarkable milestone by reaching a new all-time high against the euro, with its price hitting $65,000. This marks the first time in history that Bitcoin has surpassed the psychological barrier of 60,000 euros.
According to data from TradingView, Bitcoin’s value against the euro reached 60,393 euros at 8:30 am UTC, representing a 5% surge from its intraday low of 57,521 euros. Currently, Bitcoin is trading at 59,981 euros, reflecting a year-to-date increase of approximately 56%.
Prior to surpassing the 60,000-euro price level, Bitcoin achieved several significant milestones. On February 28, it broke the previous all-time high of around 53,000 euros, which had been set in late September 2021.
Bitcoin has also been setting new highs against various fiat currencies in 2024, including the Chinese yuan (CNY), which is the largest fiat currency by market capitalization. Towards the end of February, Bitcoin broke its previous all-time high against the CNY, surpassing the record of approximately 414,000 CNY. As of now, BTC is valued at 467,506 CNY.
According to Balaji Srinivasan, an angel investor and former CFO of Coinbase, Bitcoin has reached all-time highs in over 30 countries as of February 28, including China, India, Japan, South Korea, and Argentina.
While Bitcoin has reached $65,000, it has yet to achieve new highs against a few fiat currencies, including the US dollar, Swiss franc, Brazilian real, and Mexican peso. Currently, Bitcoin is trading at $65,000, representing a 6% decline from its all-time high of $69,000 set on Coinbase in November 2021.
Sam Wouters, the marketing head of River Intelligence, believes that the Mexican peso presents the most challenging target for Bitcoin to surpass. Data from Xe.com shows that BTC is currently trading at 1.1 million pesos, which is a 24% decrease from its previous high of approximately 1.4 million pesos set in November 2021.
Bitcoin has been setting new all-time highs against multiple fiat currencies, and this can be attributed to the increased exposure it gained after the launch of spot Bitcoin exchange-traded funds (ETFs) in the US on January 11, 2024. Following the launch, Bitcoin ETF issuers have purchased at least 340,000 BTC as of March 1, excluding significant BTC sales by the Grayscale Bitcoin Trust ETF.