Bitcoin Records All-Time Highs Against Multiple Fiat Currencies
At the time of writing this article, Bitcoin (BTC) was trading at $17,595, just $2,405 away from all-time high of $20,000. While crypto enthusiasts are closely watching the price movements and eagerly looking for Bitcoin to cross its historical high, Bitcoin has already breached its all-time high against several fiat currencies.
Alistair Milne, through a tweet, has mentioned that seven countries have seen Bitcoin record all-time high against their domestic currencies. He is also forecasting Russia and Colombia to join the list soon.
Bitcoin breached its previous peak against the Russian ruble earlier in November. The numero uno crypto also crossed its all-time high against the Colombian peso few weeks back. Milne also expects all other fiat currencies to join the list soon.
In US dollar terms, Bitcoin has been appreciating for the past few weeks and trades very close to the all-time high of $20,000.
Bitcoin has recorded a peak of 62,102,236 Colombian pesos in the past 24 hours. Its earlier high recorded in 2017 was 58,226,376. The peso initially broke that barrier on November 6, hitting 59,543,988 before retracting.
Bitcoin has also broken the previous high against Brazilian real, Turkish lira, Argentine peso, Sudanese pound, Angolan kwanza, Zambian kwacha and Russian ruble. It can be verified by information from Forex data web page Xe.
Venezuela, nevertheless, gives us price charts for two kinds of bolivar, the official fiat currency of the country. They are VES and VEF. The VES substitutes Venezuela’s blivar fuerte (VEF). Bitcoin has recorded new price highs against VES. It is not so in the case of VEF even though Bitcoin continues to gain ground in the charts.
Bitcoin adoption in Venezuela surged after inflation rose exponentially in the country.