Bitcoin and Euro:ETF debut pushes Bitcoin to record high
The oldest and most important cyber currency passed the $ 67,000 mark for the first time. On the foreign exchange market, the euro is hardly moving. Meanwhile, inflation is increasing in the euro zone.
After the debut of the first listed US fund (ETF) for Bitcoin, the biggest and most important cyber motto has climbed to a record high. It exceeded $ 67,000 on Wednesday. At its peak, a Bitcoin cost $ 67,017, 4.3 percent more than the previous day. This adds up to the plus since the beginning of October to 52 percent. On Tuesday, the ProShares Bitcoin Strategy ETF closed its first day of trading on Wall Street with a plus of 2.5 percent.
The euro moved within a narrow range on the foreign exchange market, but was able to maintain its recent gains. After rising to $ 1.1652 in early trading, the common currency was quoted a little lower again in the early evening at $ 1.1643, but was still slightly above the level of the previous day. The euro lacked clear impulses. The dollar had recently come under pressure on the markets. The expected turnaround in monetary policy in the United States is apparently already priced into the rates. Therefore, a certain countermovement set in recently. However, inflation concerns and the reaction of monetary policy are still dominant issues in the foreign exchange market. Inflation increased further in September and reached its highest level in 13 years. After a second estimate, the Eurostat statistics office announced that consumer prices had risen by 3.4 percent compared to the previous year, thereby confirming the first survey. In August the rate was 3.0 percent and in July 2.2 percent. Energy prices rose particularly sharply again in September. The European Central Bank is aiming for inflation of two percent in the medium term. She regards the rise in inflation as temporary and points to numerous special effects, most of which can be traced back to the pandemic. The ECB Council members therefore see no reason for interest rate hikes.
© SZ from October 21, 2021 / SZ, Reuters, dpa