Bitcoin soars above $45,000 for first time since 2022

Cryptocurrency platform Bitcoin on Tuesday surpassed $45,000 for the first time since April 2022.

Bitcoin, which posted its best annual performance since 2020, rose 156% last year to hit a 21-month high of $45,532.

However, this new high is still far from the all-time high of $69,000 set in November 2021, with the stock recently up 2.5% to $45,318.

Ether, the token associated with the Ethereum blockchain network, rose 1.45 percent to $2,386 on Tuesday, after rising 91 percent in 2023.

The development comes amid expectations surrounding the potential licensing of exchange-traded spot Bitcoin funds.

Meanwhile, the biggest concern among investors is whether U.S. securities regulators will soon approve spot Bitcoin ETFs. That would attract billions of dollars in investment and open the Bitcoin market to millions more people.

In December 2023, the Central Bank of Nigeria (CBN) changed its position on crypto assets in the country, asking banks to ignore previous bans on crypto transactions.


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