Bitcoin tops $44,000 in tentative comeback as portfolio hedge

Bitcoin can benefit from some of the instability which will likely befall the dollar and euro as a result of worsening international tensions, says an expert

Bitcoin kept advancing on Tuesday, briefly trading above $44,000 for the first time since Feb. 17 amid mounting signs that the war in Ukraine is bolstering demand for cryptocurrencies.

The largest cryptocurrency rose as much as 6% to $44,183 and traded at $43,400 at 12:54 p.m. in Hong Kong, gaining along with other major digital tokens. Equities benchmarks across Asia were also mostly up, with Japan’s Topix index rising 1%.

Bitcoin’s outperformance over the past few days of intensifying combat in Ukraine and escalating sanctions on Russia has some bulls pointing to a break from the narrative that crypto is just another