Bitcoin breached $23,000 for the first time in history as more Wall Street names crowd into the the world’s largest digital currency up 220 per cent this year. As momentum builds, analysts predict more gains ahead. The digital coin jumped more than 9 per cent on Thursday, touching a high of $23,256.92, according to a composite of prices compiled by Bloomberg. Bitcoin and the wider Bloomberg Galaxy Crypto Index have both more than tripled this year. Cryptocurrency-linked stocks in South Korea, Japan and China climbed. The rally in digital assets is polarizing opinion, given Bitcoin’s history of boom and bust. Proponents argue the cryptocurrency is muscling in on gold as a portfolio diversifier amid dollar weakness and potential inflationary pressure. Others see speculative fervor that will inevitably lead to a bust akin to the meltdown three years ago after a furious Bitcoin rally.
Bitcoin surpasses $21,000 for first time amid dizzying rally
Vildana Hajric
Bitcoin surpassed $21,000 for the first time, another milestone in what’s been an eye-popping rally for the controversial digital asset this year.
The world’s largest cryptocurrency surged as much as 10% to $21,293 in New York on Wednesday, vindicating forecasts that were scoffed at months ago and leading to even higher prognostications. Bitcoin has almost tripled this year, with the rally accelerating Wednesday after breaching $20,000 earlier for the first time.
“We have a new line in the sand and the focus shifts to the next round number of $30,000,” said Antoni Trenchev, co-founder and managing partner of Nexo, a crypto lender. 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.”
11:14 AM MYT
NEW YORK (Bloomberg): Bitcoin surpassed US$21,000 for the first time, another milestone in what s been an eye-popping rally for the controversial digital asset this year.
The world s largest cryptocurrency surged as much as 10 per cent to US$21,293 in New York on Wednesday (Dec 16), vindicating forecasts that were scoffed at months ago and leading to even higher prognostications.
Bitcoin has almost tripled this year, with the rally accelerating on Wednesday after breaching US$20,000 earlier for the first time. We have a new line in the sand and the focus shifts to the next round number of US$30,000, said Antoni Trenchev, co-founder and managing partner of Nexo, a crypto lender. 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 .
Bitcoin Soar past $22,000 for First Time Amid Dizzying Rally naija247news.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naija247news.com Daily Mail and Mail on Sunday newspapers.
Bitcoin tops $22 000, with more upside seen ahead
Bitcoin has surged about 20% this week, breaching US$22 000 for the first time and stirring predictions that more gains lie ahead for the world’s largest cryptocurrency.
The digital coin jumped as much as 4.6% to about $22 173 on Thursday, before paring some of the advance. Bitcoin and the wider Bloomberg Galaxy Crypto Index have both more than tripled this year. Cryptocurrency-linked stocks in South Korea, Japan and China climbed.
The rally in digital assets is polarising opinion, given bitcoin’s history of boom and bust. Proponents argue the cryptocurrency is muscling in on gold as a portfolio diversifier amid dollar weakness and potential inflationary pressure. Others see speculative fervour that will inevitably lead to a bust akin to the meltdown three years ago after a furious bitcoin rally.