There are also predictions that the price of Bitcoin will surpass $500,000 by the time US President Donald Trump steps down. As of 1:40 p.m. on the 21st, the price of Bitcoin in South Korea on the Bitcoin exchange rate rose 1.2% from the previous day.
At the same time, the overseas Bitcoin price on CoinMarketCap rose 1.79% from the same time the previous day to 100.09 million won (about 15.65 million yen).
The reason for the rise in Bitcoin prices is believed to be the result of a large influx of funds into Bitcoin spot ETFs.
On the 19th (local time), a total of $667.4 million (approximately 95.8 billion yen) flowed into the Bitcoin spot ETF, the largest inflow in the past two days.
According to CoinDesk on the 20th (local time), Standard Chartered analyst Jeff Kendrick said, "Bitcoin will rise to $500,000 until President Trump leaves office.
"In the first quarter of this year, government agencies around the world invested in Strategy (formerly MicroStrategy), indirectly increasing their bitcoin holdings," he said.
"The Norwegian Government Pension Fund and the Swiss National Bank have secured strategic stakes and indirectly invested in 700 Bitcoin," it said.
He went on to say, "South Korea's National Pension Service and the U.S. state government pension system have also secured additional Bitcoin."
"Such buying supports the view that Bitcoin will hit $500,000."
2025/05/21 14:35 KST
Copyright(C) BlockchainToday wowkorea.jp 117