After topping the symbolic benchmark on Wednesday, bitcoin continued until late in the evening. According to data provider Refinitive, it was the last trade at around $ 21,851.
Bitcoin (XBT) This year has been on a tear, triple in value. This and has been attractive to other cryptocurrency investors as the US dollar has weakened.
Michael Sonenshin, managing director of Gracecon Investments Investment, said, “It is no surprise to us that bitcoin has hit $ 20K, but it is a very symbolic threshold for bitcoin to reach the end of the historic year. ” “These are early days now, and we think there are many more runways right now.”
With the Federal Reserve hoping to leave interest rates near zero for many more years, bitcoin may continue to win new fans.
Famous names are adding to the mainstream appeal of bitcoin. A top executive at black Rock (BLK) Has also said that cryptocurrency can replace gold, and payment giants category (category) And Paypal (PYPL) Both have embraced bitcoin.
“Last week’s volume was 70% higher than this year’s average … suggesting greater participation in this rally than historical participation,” said James Butterfill, investment strategist for Sikkahar. “It is worth noting that investors are beginning to see bitcoin as a viable gold option.”