Bitcoin (BTC) has achieved a remarkable milestone by reaching a new all-time high against the euro, with its price surging to $65,000. This historic event occurred on March 4, when Bitcoin surpassed the psychological barrier of 60,000 euros for the first time ever.
According to data from TradingView, Bitcoin reached a peak of 60,393 euros at 8:30 am UTC, marking a 5% increase from its intraday low of 57,521 EUR. As of now, Bitcoin is being traded at 59,981 euros, reflecting a year-to-date increase of approximately 56%.
Before reaching the 60,000-euro mark, Bitcoin achieved several significant milestones. On February 28, it broke the previous all-time high of around 53,000 euros, which had been established in late September 2021.
Bitcoin has been surpassing all-time highs against various fiat currencies, including the Chinese yuan (CNY), which is the world’s largest fiat currency in terms of market capitalization. In late February, Bitcoin set a new all-time high against the CNY, surpassing the previous record of approximately 414,000 CNY, according to data from Xe.com. Currently, BTC is valued at 467,506 CNY.
Balaji Srinivasan, an angel investor and former CFO of Coinbase, revealed that Bitcoin had achieved all-time highs in over 30 countries by February 28, including China, India, Japan, South Korea, and Argentina.
However, despite reaching $65,000, Bitcoin has yet to surpass all-time highs against a few fiat currencies, such as the United States dollar, the Swiss franc, the Brazilian real, and the Mexican peso. At present, Bitcoin is being traded at $65,000, which is approximately 6% lower than its all-time high of $69,000 recorded on Coinbase in November 2021.
According to Sam Wouters, the marketing head of River Intelligence, the Mexican peso poses the most ambitious target for Bitcoin to overcome. Xe.com data shows that BTC is currently valued at 1.1 million pesos, a decline of about 24% from its previous high of approximately 1.4 million pesos in November 2021.
Bitcoin has been consistently surpassing all-time highs in various fiat currencies, largely due to increased exposure following the launch of spot Bitcoin exchange-traded funds (ETFs) in the United States on January 11, 2024. Since 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.
Overall, Bitcoin’s impressive performance against fiat currencies highlights its growing influence and potential impact on the global financial landscape.