• Bitcoin, the world's largest cryptocurrency, is experiencing a significant rally driven by heightened interest from institutional investors. Over the span of two days, its price surged by 10%, reaching over $56,000 (€51,606), marking its highest value since November 2021. The CoinDesk Bitcoin Price Index (XBX) hit a peak of $56,940.18 (€52,472.08) within the last 24 hours before slightly dipping to around $56,500 (€52,0660) by Tuesday morning in Europe. A key catalyst behind this surge is MicroStrategy's announcement of a substantial purchase of 3,000 bitcoins for $155 million (€143 million).

• Institutional investors are increasingly favoring cryptocurrencies, with investments in crypto funds witnessing a notable rise of $598 million (€551 million) last week, following a record inflow of $2.452 billion (€2.26 billion) the week before. Bitcoin alone saw investments surge by $570 million (€570 million). With the total capitalization of the crypto market surpassing $2 trillion (€1.84 trillion), equivalent to Italy's GDP, Bitcoin is projected to achieve a new record of $88,000 (€82,000) in 2024, settling around $77,000 (€70,957) by year-end. The recent approval of bitcoin-owning exchange-traded funds (ETFs) has expanded its accessibility to a broader investor base, contributing to the upward momentum in prices.