Cryptocurrency Bitcoin has stabilised after touching a record high on Tuesday, before plummeting soon after. The record high was fueled by investors pouring money into US spot exchange-traded crypto products and the prospect that global interest rates may fall.
The world's largest cryptocurrency hit a high of $69,202 (AED 254,172) topping November 2021's all-time peak of $68,999.99 (AED 253,430).
Investor interest has increased since the Securities and Exchange Commission approved 11 spot bitcoin ETFs in late January. It then reversed course and was recently down around 7 per cent at $63,400 (AED 232,861).
UAE looks to deepen Panama ties as trade jumps nearly 50%
Al Tayer calls for global action on critical minerals to power clean energy transition
UAE, US strengthen economic and financial partnership during Washington talks
RTA signs AI partnerships with Chinese firms to boost future transport projects
UAE joins global AI initiative at Washington summit
