Bitcoin moved back near the $40,000 mark as prices for the world’s oldest cryptocurrency rebounded from 7-day lows near the $3,000 level due to new institutional demand.
U.S.-based digital asset mutual-fund Grayscale Holdings announced on Friday that its total crypto assets under management (AUM) were $30.4 billion.
For the past 24 hours, Bitcoin has traded in the $37,388.34 to $39,845.92 range, while it was trading at $38,900 at 12:50 p.m. on Monday, up 0.30 percent, according to the WazirX crypto exchange.
Meanwhile, the world’s second largest cryptocurrency, Ether, hit a new all-time high $1,761.35 over the weekend. Dogecoin, which started as a joke in 2013, hit a new all-time high of $0.082 after tweets from Tesla CEO Elon Musk. Other significant cryptocurrencies such as Ripple, Stern and Tether were up 2 percent on Monday.
