As of May 17, 2021, the price of Bitcoin in US dollars stands at $73,440.00, reflecting a 2.69% increase from the previous day. This marks a new record high for Bitcoin.
The recent upsurge in Bitcoin’s value can be attributed to several factors. Institutional investors are showing growing interest in Bitcoin as a safeguard against inflation. Additionally, the crackdown on cryptocurrency mining in China has resulted in a reduction in Bitcoin supply, leading to a surge in its price.
Source (CNBC)
