Showing posts from January, 2021

Bitcoin soars to new heights after hitting $20,000 milestone

  The cryptocurrency has more than tripled this year amid rising demand from institutional investors and tech companies This story has been updated. Bitcoin soared to a record high on Thursday, a day after breaching $20,000 for the first time in a mad-dash year that has seen the digital currency more than triple in value. Bitcoin, the world’s first blockchain cryptocurrency, swelled nearly 17 percent Thursday to $23,187, according to CoinMarketCap. It operates through peer-to-peer digital exchanges without a centralized hub, and its trading history is marked by wild swings. Bitcoin was trading above $10,000 in February, just before the coronavirus crisis took hold and it slid to about $4,000 within weeks. It was back above $10,000 by October amid growing demand from institutional investors and tech firms, and is now up more than 220 percent since the start of the year, according to Reuters. Tyler and Cameron Winklevoss, who co-founded the cryptocurrency exchange Gemini, told