MBA Career Growth: Bitcoin Soars, SEC Investigates Potential Misleading of Investors

Last Updated on February 29, 2024 by Robert C. Hoopes

Bitcoin is on the rise once again, inching closer to its all-time high as it climbs over $63,000 with a 4% increase. This recent surge in value is being fueled by the approval of new Bitcoin Exchange Traded Funds (ETFs) by US regulators, as well as a significant influx of clients investing in these ETFs.

One key factor expected to impact Bitcoin’s value in the coming months is the upcoming halving event scheduled for April. This event is anticipated to slow down the supply of new coins entering the market, potentially driving up the price even further.

In addition to these developments, the recent news of MicroStrategy adding 3,000 bitcoins to its holdings has also contributed to the current rally. Market analysts are optimistic about Bitcoin’s future, with some predicting that it will break the $69,000 mark in the near future.

Beyond the realm of cryptocurrency, there have been several other notable economic updates. Growth data from countries such as India, Canada, and Switzerland has been positive, with Switzerland reporting a 0.3% increase in GDP at the end of last year.

In the UK, mortgage approvals are at a 15-month high and property sales are forecasted to rise by 10% this year. Additionally, Drax has paid a windfall tax of £205 million as profits surge, leading to a 6% increase in shares. Meanwhile, a takeover battle is underway as GXO Logistics makes a rival bid for UK’s Wincanton, causing shares to jump by 17%.

On the technology front, shares of Ocado have jumped as losses narrow, resulting in an EBITDA profit of £54 million. Moreover, Ether, the cryptocurrency for the Ethereum blockchain platform, has also seen a 4% increase, reaching $3,464.

It seems that a fear of missing out (FOMO) is driving the surge in Bitcoin and other economic indicators, with enthusiasts eagerly anticipating the cryptocurrency to reach the coveted $100,000 mark.