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Bitcoin’s price was above 8,275.23 Tuesday morning. This is the first time it has climbed above the $8000 mark in two months.
Some 20% has been added to the price over the past week.
What's boosting the price?
Many believe it is the approval of a bitcoin exchange traded fund (ETF).
From Forbes.com:
The U.S. Securities and Exchange Commission (SEC) is mulling whether to approve the ETF, which was filed through the Chicago Board of Exchange (CBOE) by New York-based VanEck and blockchain platform SolidX.
If approved a bitcoin ETF would mean people are able to buy into bitcoin without having to deal with clunky exchanges that often struggle with cumbersome regulation and lack of public trust.
It would now appear the bitcoin ETF is likely to get approved, according to an unconfirmed report by the ICO Journal late last week.
Bitcoin now accounts for nearly 80% of all funds transactions at online gambling websites.
- Aaron Goldstein, Gambling911.com
