PressAdda
Kathmandu – The world’s most expensive cryptocurrency, Bitcoin, has continued its upward surge, setting a new record.
According to international news agency Reuters, the price of one Bitcoin reached $125,835 on Monday, marking a new all-time high.
On Sunday, Bitcoin crossed the $125,000 mark for the first time. By Monday morning, it had risen by nearly 2% to trade at $125,253. By evening, the price had climbed to $125,835, Reuters reported.
Based on Tuesday’s exchange rate, the value of a single Bitcoin exceeds NPR 17.8 million.
Bitcoin, which began trading 16 years ago, reached six digits for the first time last November.
Market analysts say Bitcoin’s price has increased by more than 33% this year alone. The surge is attributed to growing demand from institutional investors and the crypto-friendly policies of U.S. President Donald Trump, according to Reuters.
During his presidential campaign, Trump expressed interest in Bitcoin and pledged to further boost its value.
In Nepal, cryptocurrency trading is banned. Those involved in such transactions are prosecuted under Section 262 of the Criminal Code, 2074. This section prohibits the circulation of unauthorized currency.
Violators may face up to one year in prison, a fine of NPR 10,000, or both. Additionally, any currency used or held in such transactions is subject to confiscation under this provision.
