Bitcoin has reached a record high in USD after a 7% increase in one day. In Japan, Argentina, and the Philippines, where there is an inflation rate, Bitcoin established a new high of 11.2 million yen, 63.8 million Argentine pesos, and 4.18 million pesos, respectively, compared to those recorded in mid-March.
Bitcoin’s recent market performance displayed a notable increase in its price to $71,167.63, which was up by 6.19% on the last day. This highlights Bitcoin’s dramatic rise from around $67,000 to over $71,000 within the same day. This price surge sparked $97 million worth of liquidations in Bitcoin.
This surge brings the cryptocurrency within 3.4% of its all-time high of $72,500, recorded in March. The rise has been notable across various global markets, setting new benchmarks in several countries.
Bitcoin continued to thrive in Japan, with the price skyrocketing to 11.2 million yen for the first time. This record comes as the Japanese yen continues to slide, giving a 10% drop over the beginning of the year against the US dollar.
In the same way, in Argentina, where inflation rates are currently between 200% and 300% annually, Bitcoin stood at 63.8 million Argentine pesos, a little above its mid-March peak.
Similarly, on May 21, 1 Bitcoin briefly reached a record value of 4.18 million pesos in the Philippines, surpassing the highs seen in mid-March.
This upward trend is mirrored in other nations too, including Britain, Australia, Canada, and several other countries in Asia and South America, where Bitcoin prices have reached or neared their mid-March levels.
