On Thursday morning, Bitcoin surpassed $57,000 after falling to below $50,000 during Monday's market sell-off.
At the time of writing, the price of Bitcoin has seen a 4% increase, trading for around $59,000.
According to JPMorgan, this rebound is mainly due to institutional investors. The limited de-risking seen in Bitcoin futures during the crash indicates continued confidence from these investors.
In other news, Morgan Stanley is allowing its financial advisors to recommend the iShares Bitcoin Trust and the Fidelity Wise Origin Bitcoin Fund (FBTC).
As reported, Morgan Stanley is the first major Wall Street firm to actively promote these Bitcoin funds to clients, while firms like Merrill Lynch and UBS only offer them at client request.
El Salvador has secured a $120 million disbursement from the IMF as part of its $1.4 billion loan agreement, but only after agreeing to reduce direct government involvement in Bitcoin operations.
Japanese investment firm Metaplanet is ramping up its Bitcoin strategy by raising $50 million through a private placement of zero-interest bonds.
Robert Kiyosaki, author of Rich Dad Poor Dad, is sounding a dire alarm over what he describes as the beginning of financial chaos in the U.S.—a scenario he believes will wipe out millions financially.
After a strong rebound from its January correction, Bitcoin surged over 50% to reach an all-time high of $111,880.