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News update.
According to Cointelegraph, Bitcoin hit the record in local currencies of three countries namely, Japan, Argentina and Philippines.
According to Martin Young of Cointelegraph, for the first time in history the price of one Bitcoin exceeded 11 million yen in Japan, while prices also peaked in Argentina and in Philippines.
He stated that Bitcoin achieved an all-time highs in several countries across Asia and South America following a 7% surge on the day, pushing the cryptocurrency ever closer to its United States dollar peak.
BTC prices hit an six-week high of $71,650 on May 21, following a gain of more than 7% over the past 24 hours and according to Coingecko, the asset has returned to within 3.4% of its March 14 all-time high in U.S. dollar terms of $73,738.
However, a cording to him, the big move pushed Bitcoin to new peaks against several other fiat currencies. And according to CoinMarketCap, in Japan, BTC hit an all-time high of 11.2 million yen in early trading on May 21.
He stated it is the first time the asset has been worth more than 11 million yen. The local currency has weakened against the U.S. dollar in recent months, losing 10% against the greenback since January.
On May 21st, Bitcoin prices also peaked in Argentina when the asset tapped 63.8 million Argentine pesos, slightly higher than the March high. And in Philippines, 1 Bitcoin was briefly worth a record 4.18 million pesos, beating mid-March highs.
Other nations where BTC prices have equaled or come very close to their mid-March peak prices include Britain, Australia, Canada, Chile, Colombia, Egypt, Israel, Norway, India, South Korea, Taiwan and Turkey, as noted by industry observer Thomas Fahrer on X.
Cointelegraph, is one of the most trusted and leading independent digital media platform that covers wide range of news about cryptocurrency (Blockchain technology, crypto assets, crypto prices and charts, etc). It was founded year 2013. Cointelegraph provides the most accurate and up-to-date news from both the decentralized and centralized worlds