Bitcoin has climbed more than 20% over the past four days, reaching a two-year high as the price crossed $60K. After a breakneck run toward a record high this week, soaring demand for options appears to have left Bitcoin teetering on the edge. Bank of America analysts have warned that the U.S. debt load is about to ramp up, fueling Bitcoin price. Nayib Bukele said El Salvador could profit $41.6 million if it sold all its Bitcoin today.
US financial giants are buying up thousands of bitcoins, with a finite supply of only 21 million. It has been 15 years since Bitcoin first launched, becoming the most productive asset. Crypto experts predict Bitcoin could reach $60,000 by the end of 2024. The heated rally in Bitcoin can be explained by more coins being bought daily than created.