Facts about cryptocurrencies
Bitcoin enthusiasts and traders were greeted with the best news yet. The world s most valuable virtual currency breached $20,000 mark for the first time in history, with its returns almost tripling this year.
The spectacular spike comes after a severe crash in March, which dipped 25 percent in wake of the coronavirus pandemic. According to market data firm Coin Metrics, Bitcoin traded 5.6 percent higher to hit around $2,600 on Wednesday. Another report by Bloomberg says the virtual cryptocurrency spiked 3.8 percent to $20,154.
Pixabay We have a new line in the sand and the focus shifts to the next round number of $30,000. This is the start of a new chapter for Bitcoin. It s a narrative the media and retail crowd can properly latch onto because they ve been noticeably absent from this rally, said Antoni Trenchev, co-founder and managing partner of Nexo, a crypto lender.
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Guggenheim s Scott Minerd Says Bitcoin Should Be Worth $400,000 newsmax.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsmax.com Daily Mail and Mail on Sunday newspapers.
Bitcoin surges past $20,000 for the first time
The world’s largest cryptocurrency rose as much as 3.8pc to $20,154 on Wednesday, vindicating forecasts that were scoffed at months ago
16 December 2020 • 2:00pm
Bitcoin has surpassed $20,000 (£14,785) for the first time, a significant milestone in an eye-popping rally for the controversial digital asset in 2020.
The cryptocurrency, the largest of its type, rose as much as 3.8pc on Wednesday to be worth as much as $20,154. Much of Bitcoin s recent rise in price can be attributed to growing institutional investor interest in the digital asset.
Ruffer, a UK asset management firm, said on Tuesday that it would allocate 2.5pc of its funds to Bitcoin to protect against continuing devaluation of the world s major currencies . The announcement meant that around $675m of customer funds would be routed into buying the cryptocurrency.
Giant Bitcoin Whale Emerges With Transformational $1 Billion Stake, Backing From Legendary Traders zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.