Soaring bitcoin set for sharpest monthly jump since 2020

FILE PHOTO: Physical representations of the bitcoin cryptocurrency are seen in this illustration taken October 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

SINGAPORE: Bitcoin headed for its biggest monthly gain in more than three years on Thursday and is within range of a record high as cash rushing to listed bitcoin funds propels a strong rally.

The largest cryptocurrency by market capitalisation was firm in Asia morning trade at $62,000, having changed hands at as high as $63,933 overnight. Its monthly gain is more than 45%, the largest since December 2020.