Bitcoin hits 2-year high, surpassing $57,000 amidst surge

Bitcoin surges to a two-year high, fueled by significant institutional investment

Bitcoin experienced a significant surge, reaching a two-year high above $57,000 in Asian trading on Tuesday.

Indicators of substantial institutional buying fueled this impressive rally. 

The surge was not limited to Bitcoin, as its counterpart, Ether, also achieved a milestone by surpassing $3,200 for the first time in two years.

This upward trajectory for Bitcoin comes after a remarkable 10% gain in just two sessions. 

The catalyst for this surge was a disclosure on Monday by MicroStrategy, a prominent crypto investor and software firm. 

MicroStrategy revealed its recent acquisition of approximately 3,000 bitcoins, amounting to a substantial $155 million investment.

The influence of institutional players in the cryptocurrency market continues to grow, and their strategic investments contribute to the overall bullish sentiment.

Source: Newsroom

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