Kathmandu. The Bitcoin cryptocurrency set a new record on Sunday. Its price has exceeded $ 1.25 million.
People are considering Bitcoin as a safe investment. Therefore, its demand has increased significantly. Bitcoin has given big returns in the last 7 days.
Bitcoin, the world’s largest cryptocurrency, reached $125,689 on Sunday. Investors are worried about the government shutdown in the US. This led to an increase in the price of Bitcoin. It broke its previous record of $124,514 set on Aug. 14.
The greening of the US stock market and new investments in bitcoin-related ETFs have also contributed to this. Investors believe the government shutdown, which began on Wednesday, could push money into safer assets. Market observers are calling this trend ‘debasement trade’.
