The cryptocurrency has now surpassed $40K, reaching it for the first time since April 2022.

This is a 20-month high.

The demand was driven primarily by hopes that regulators would soon approve the first spot Bitcoin exchange-traded fund, which would attract a new wave of investors.

Experts believe that the first approval could occur in early 2024.

Thanks to its incredible performance this year, Bitcoin is only slightly smaller than Meta's market capitalization $META.

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