Bitcoin (BTC) has hit All-Time-High in several countries across Asia and South America following a 7% gain on the day – pushing the cryptocurrency closer to the US dollar's peak.
Bitcoin price hit an intraday and six-week high of $71,650 on May 21 after rising more than 7% in the past 24 hours.
According to CoinGecko, the asset is just 3.4% below its March 14 All-Time-High in USD of $73,738.
However, this big move pushed Bitcoin to new highs compared to several other fiat currencies.
According to CoinMarketCap, in Japan, BTC hit an All-Time-High of 11.2 million yen in early trading on May 21.
This is the first time the property has been worth more than 11 million JPY. The local currency has weakened against the US dollar in recent months, losing 10% against the greenback since the start of the year.
Bitcoin prices are also peaking in Argentina as the asset hit 63.8 million Argentine pesos (ARS) on May 21, slightly above the peak set in mid-March.
The South American country has been struggling with inflation, currently at a whopping 290%, and currency devaluation over the past few years.
Similarly, one Bitcoin was briefly worth a record 4.18 million pesos (PHP) in the Philippines on May 21, beating the mid-March high.
Other countries with BTC prices at or very close to the peak price in mid-March include the UK, Australia, Canada, Chile, Colombia, Egypt, Israel, Norway, India, South Korea, Taiwan and Turkey, as noted by industry observer Thomas Fahrer on X.
In a market update earlier this week, 10x Research head of research Markus Thielen predicted “a breakout above $67,500 could lead to new all-time highs.”
BTC is currently trading at $70,945, just $2,500 short of the US dollar's All-Time-High .
