"Those who invest should be prepared to lose all their money."

Bitcoin of the Realm

Bitcoin has crushed its highest price ever, blasting past $72,000 for the first time in its history today.

The news comes after UK regulators announced they wouldn't stand in the way of the creation of crypto-backed, exchange-traded notes (cETNs), CNBC reports. ETNs are a type of unsecured debt securities that trade on major exchanges, kind of like a stock.

The value of the mainstream cryptocurrency has risen considerably since the beginning of the year, spurred on by its growing acceptance by regulators around the globe and the fading shadow of the FTX collapse.

In January, the US Securities and Exchange Commission approved the first US-listed exchange-traded funds (ETFs) to track Bitcoin, a "watershed moment" in the country's approval of crypto.

Professionals Only

The UK Financial Conduct Authority (FCA) noted that the new rules come with some important caveats. For one, only professional, and not retail, investors can buy ETNs, including crypto-backed ones, citing potential "harm" to consumers due to inherent risks.

The FCA warned that crypto assets are "high risk and largely unregulated. Those who invest should be prepared to lose all their money."

Despite the warnings, investors remain bullish on crypto, with cryptocurrency Ethereum surging past $4,000 for the first time in two years last week.

There's also the chance that the crypto rally isn't quite over yet. Next month, the fourth Bitcoin "halving" event is set to reduce the number of new tokens going into circulation, which is designed to maintain scarcity.

Each of the three preceding halving events has led to Bitcoin rising to new highs, as Business Insider reports, which means the currency could set even more records in a matter of weeks.

But given its inherent volatility, that's far from a guarantee.

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