The price of bitcoin has hit a new all-time high, reaching above $73,000. Institutional investors, who used to be a bit wary of bitcoin's rollercoaster-like price swings and regulatory unknowns, are now embracing the cryptocurrency. Eleven spot bitcoin ETF were also rolled out in January, providing a regulated option for traditional institutions or other buyers who may now feel safer investing in the cryptocurrency.

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Bitcoin is a type of digital global currency that is completely de-centralised (no bosses, banks or clearing houses).