Bitcoin hits all-time high following SEC’s promise to re-evaluate Winklevoss twins’ ETF proposal

Bitcoin hit a record high of $1991.19 earlier today and currently sits at $1989.77 as of 3pm ET, Monday.

The coin soared nearly 5% in the last twenty-four hours alone, reaffirming its bullish recovery following the March 10th crash which saw prices bottom out at $1198 per coin – the lowest since late January, 2017.

Experts ascribe the currency’s recent boom to a variety of factors. Perhaps most significantly, on April 24th the US Securities and Exchange Commission (SEC) agreed to reconsider the Winklevoss’s bid for the world’s first Bitcoin ETF; this was in response to a petition launched by Bats’ Exchange.



The SEC initially denied the Winklevoss’ ETF proposal at the beginning of March and a few weeks later rejected another ETF proposal which lead to a drastic drop in the coin’s value.

Another possible contributing factors to Bitcoin’s rise include Japan’s decision to recognize the currency as a legal payment method; this policy was introduced on April 1st, 2017 bringing with it a host of stipulations, such as capital requirements for exchanges along with cybersecurity mandates.

Finally, days after Japan’s move to accept Bitcoin as legal tender, Russia announced it would consider Bitcoin – along with other cryptocurrencies – in 2018; this helped instil confidence in the coin’s future.

Bitcoin has gained over 19% thus far in 2017 and has been the world’s top performing currency every year since 2010, excluding 2014.