The world’s largest crypto currency gained 3 per cent to $68,960.7, after dropping below $66,000 earlier in the session
Bitcoin jumped on Monday after sliding over the weekend, amid a roller-coaster session across asset classes.
The world’s largest crypto currency gained 3 per cent to $68,960.7 by 21:43 GMT, after dropping below $66,000 earlier in the session.
Oil saw a wild session on Monday, with crude initially climbing near $120 per barrel.
Higher energy prices have revived global inflation concerns and complicated the outlook for central banks, which had been expected to gradually ease monetary policy this year.
Bitcoin often trades like a high-beta risk asset during periods of macro uncertainty, meaning it tends to drop when investors retreat from riskier investments and rises when traders pile back in. U.S. stock market closed sharply higher on Monday after Trump’s comments to CBS.
The crypto currency’s losses over the weekend also reflected the fact that digital asset markets trade around the clock, allowing investors to react immediately to geopolitical news even when traditional financial markets are closed.
Bitcoin treasury company Strategy said it purchased another 17,994 Bitcoin for around $1.28 billion between March 2 and March 8, an 8-K filing with the U.S. Securities and Exchange Commission on Monday showed.
The company paid an average price of $70,946 per Bitcoin for the latest acquisition.
Following the purchase, Strategy’s total holdings rose to 738,731 BTC, currently valued at around $50 billion. The bitcoin was accumulated at an average cost of $75,862 per coin, representing a total investment of around $56 billion including fees and other expenses, according to company co-founder and executive chairman Michael Saylor.
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