Experts attributed the rise in the bitcoin exchange rate to changes in geopolitics and economics

The growth of the bitcoin exchange rate is taking place against the background of changes in geopolitics and the global currency system. This was announced to Izvestia on May 21 by Fyodor Sidorov, founder of the School of Practical Investment.

"This [bitcoin's appreciation] is taking place against a backdrop of unstable geopolitics, weakening global reserve currencies, and growing interest in decentralized assets from sovereign and institutional players," he said.

The expert noted that bitcoin has become an element of geopolitical diversification in an environment where "the dollar is facing pressure due to the US budget deficit." He added that against this background, large investors are transferring part of their reserves to crypto assets.

"An additional driver was the wave of purchases amid expectations that a number of countries may impose restrictions on capital movements or tighten controls on transfers. This topic became especially acute after discussions about a possible new wave of sanctions and the confiscation of frozen assets," Sidorov added.

Vasily Girya, CEO of GIS Mining, noted that the volume of bitcoin trading on the world's leading cryptocurrency exchanges continues to grow amid declining supply.

"The immediate target of bitcoin by the beginning of summer is the range of $ 113-115 thousand. I do not exclude that by the middle of summer bitcoin will strive to reach the level of $ 130 thousand," he added.

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Earlier in the day, the cost of bitcoin exceeded $109.6 thousand. Thus, the cryptocurrency has updated its historical maximum.