Here's what moved the Bitcoin price 20% higher in March

Investors are starting to see cryptos as more than just an investable asset.

| More on:
Bitcoin coin with a rising arrow.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • The Bitcoin price gained 20% in March 
  • Investors were sending crypto to Ukraine to support the nation against Russia 
  • Major purchases by a 'crypto whale' helped Bitcoin hit new 2022 records 

The Bitcoin (CRYPTO: BTC) price kicked off March trading for US$39,632.

Yesterday, just before we ticked the calendars over into April, Bitcoin was worth US$47,397, according to data from CoinMarketCap.

That's a gain of 19.5% over the course of the month.

Why the Bitcoin price made headlines in March

The Bitcoin price made plenty of headlines in March.

And for good reason.

Early in March, and less than 2 weeks after Russia's invasion of Ukraine, reports emerged that cryptos were being sent to help support Ukraine's defence efforts. Among those reports, it emerged that Bitcoin had surpassed Russia's plummeting rouble in terms of total value.

A bit later in the month, the Bitcoin price surged on the day that United States President Joe Biden signed an executive order imposing greater oversight on crypto markets. Crypto investors look to have applauded that regulatory move.

Mid-month, Bitcoin received another leg up when a potential crypto mining ban failed to gain traction among European Union parliamentarians.

The token also held up well following the first interest rate rise from the US Federal Reserve in many years, with numerous more rate hikes flagged over the coming months.

Earlier this week, on 29 March, the Bitcoin price hit a new 2022 high, erasing sizeable losses it had suffered in the first 2 months of the new year.

That new 2022 high came following news that the Luna Foundation, the organisation behind stablecoin TerraUSD (CRYPTO: UST), had bought almost 25,000 Bitcoin worth roughly US$1.1 billion.

Crypto markets resilient in March

Commenting on the recent performance of the Bitcoin price and crypto markets more broadly, Josh Gilbert, crypto analyst at multi-asset investment platform eToro, said:

Despite geopolitical tensions emerging and interest rates rising across the globe, crypto markets have demonstrated a high level of resilience. The tumultuous start of 2022 has highlighted the multitude of use cases that cryptoassets possess. Investors are now starting to see crypto as more than just an investable asset, but instead, as something that can completely shift financial systems and provide support to those in need.

On the first trading in April, the Bitcoin price is down 3.5% to US$45,598.

Should you invest $1,000 in Origin Energy Limited right now?

Before you buy Origin Energy Limited shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Origin Energy Limited wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns and has recommended Bitcoin. The Motley Fool Australia owns and has recommended Bitcoin. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Cryptocurrencies

Bitcoin coins in a pile.
Cryptocurrencies

What's happening with the Bitcoin price amid the Trump tariff market panic?

You may have heard Bitcoin referred to as ‘digital gold’. But is it really a haven asset?

Read more »

A graphic picture of gold Bitcoins with the Bitcoin symbol lying on a desk with arrows shooting higher and one arrow lifting off the flat surface pointing to the sky.
ETFs

Dip your toes into cryptocurrency with these 2 ASX ETFs

Interested in cryptocurrency?

Read more »

Bitcoin symbol with a rising green arrow.
Cryptocurrencies

Bitcoin surges: How to invest through the ASX

Wanting to gain exposure to the cryptocurrency? Check out these two options.

Read more »

Bitcoin coins in a pile.
Cryptocurrencies

Here's what owning Bitcoin for 7 years has taught me

Bitcoin has been a fantastic investment for me, but not without its pitfalls.

Read more »

A woman holds a bitcoin token in her hand as she smiles at the camera in the background.
Cryptocurrencies

Bitcoin price surges on Donald Trump's cryptocurrency strategic reserve update

The Bitcoin price hit all-time highs of US$109,115 on the day Trump was sworn into office.

Read more »

Bitcoin coin with a rising arrow.
Cryptocurrencies

The Bitcoin price soared 120% in 2024. Could it repeat that performance in 2025?

Bitcoin soared by 150% in 2023 and 120% in 2024, so many crypto investors are expecting it to once again…

Read more »

Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.
Cryptocurrencies

Why Bitcoin, Ethereum, and Dogecoin just surged

Today's CPI report turns out to mean a great deal to crypto investors.

Read more »

Bitcoin coin with a rising arrow.
Cryptocurrencies

Bitcoin price smashes new record highs as market value tops US$2.1 trillion

Bitcoin just soared to new all-time highs. But why?

Read more »