price of Bitcoin, which fell to the level of $40,000, broke through the line of 60,000 and is rising sharply again. This is due to the expectation that the US Securities and Exchange Commission will soon approve the Bitcoin exchange-traded fund ETF, but it is still volatile, so caution is needed.
Reporter Lee Seong-hoon reports.
price of Bitcoin, which was at the level of $41,000 at the end of last month, rose 50% in less than a week and broke the $61,000 level.
The domestic market price also exceeded 75 million won, the highest level in half a year since April.
The uptrend, which began late last month with Federal Reserve Chairman Powell's remarks that there will be no full-blown China-like regulation, has been fueled by media reports, including Bloomberg, that the SEC will approve a Bitcoin futures exchange-traded fund ETF next week. .
The Bitcoin Futures ETF is an indirect investment product that trades the Bitcoin futures price as an index.
The SEC has been delaying the approval of ETFs for investor protection, but it is known that the Chicago Mercantile Exchange, where Bitcoin futures are traded, is under strict supervision by the US financial authorities, so there is little concern about price manipulation.
[Park Seong-joon / Director of Dongguk University Blockchain Research Center: Isn't it an indirect investment? You can think of it as creating a channel through which you can enter the Bitcoin market. The range of people who invest is expected to widen considerably... .]
A growing number of investors who view Bitcoin as an inflation avoidance also seem to have contributed to the uptrend, but the problem is still large volatility.
Yesterday (15th), the virtual currency listed on a domestic exchange soared more than 30 times from 300 won to 10,000 won immediately after listing, and then plummeted, leading to ant investor losses.
Cryptocurrency taxation to be implemented next year is also a variable.
Investment income in excess of 2.5 million won is taxed at a tax rate of 22%, including local taxes, and experts say investors who want to avoid the tax can sell all at once at the end of the year, so beware of volatility.
(Video editing: Kim Jong-tae)Keywords: bitcoin, level, exchange-traded fund etf, bitcoin futures etf, theprice, price, chicago mercantile exchange, expectation, us securities and exchange commission, uptrend, volatility watch, lee seong-hoon, investors, caution, futures exchange