Crypto
Bitcoin Shatters August Curse with 25% Gain, Institutions Fuel Momentum
Bitcoin has ended its worst streak in August since the financial crisis of 2013. For four consecutive years, from 2014 to 2022, Bitcoin plummeted during this month. But this year's performance was a stark contrast, with a gain of nearly 25%.
The current price of Bitcoin is about $77,423. It surpassed the low of $60,000 in August and reached over $81,000 before ending the period around $78,600.
Institutions have been actively supporting this growth with massive inflows into crypto ETFs. Strategy's purchase of 4,603 BTC for approximately $370 million dollars sent a clear signal about their long-term convictions towards cryptocurrency.