Seoul - For the first time, the price of Bitcoin has surpassed 100 million won in South Korea, marking a significant milestone in the country's cryptocurrency market. The digital currency achieved this record value at the local exchange Upbit, trading at 100,020,000 won as of late Monday afternoon.
According to Yonhap News Agency, Bitcoin's value has seen a remarkable 75 percent increase over just two months, rising from around 57 million won earlier in the year. This surge in Bitcoin's price coincides with the U.S. Securities and Exchange Commission's decision in January to approve the trading of exchange-traded funds linked to Bitcoin's spot price, a move that has been pivotal in boosting investment and interest in the cryptocurrency across global markets.