Bitcoin Hits 2-Year High on Investor Confidence and ETF Buzz

Bitcoin hit a two-year high on February 27th, 2024.

This surge is its biggest two-day rally of the year so far.

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The rise is attributed to signs of large investors buying the cryptocurrency.

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MicroStrategy, a software firm, recently purchased 3,000 bitcoins, boosting market confidence.

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Bitcoin ETFs approved in the US are another factor contributing to the positive sentiment.

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The price increase comes before the bitcoin halving event in April, which will limit the supply of new bitcoins.

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Social media platform Reddit also invested a portion of its cash reserves in bitcoin and other cryptocurrencies.

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Ether, the second-largest cryptocurrency, is experiencing even faster growth, up 41% this month.

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Anticipation of a spot ether ETF approval is further driving up its price.

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Shares of major crypto companies like Coinbase, Marathon Digital, and Riot Platforms also rose significantly.

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