After surpassing the symbolic benchmark on Wednesday, Bitcoin continued to grow into the night. According to data provider Refinitiv, it last traded at about $ 21,851.
Bitcoin (XBT) it has been in tears this year, having tripled its value. This and other cryptocurrencies have been attractive to investors as the US dollar has weakened.
“It’s no surprise to us that Bitcoin has reached $ 20,000, but it’s a very symbolic threshold to reach at the end of what has been a historic year for bitcoin,” said Michael Sonnenshein, CEO of Grayscale Investments. “It’s just the first few days and we think there’s a lot more track to cover.”
With the Federal Reserve forecasting interest rates to close to zero for a few more years, Bitcoin may continue to gain new fans.
Known names are added to the main attraction of Bitcoin. A top executive of BlackRock (BLK) he has even said that cryptocurrency can replace gold and payment giants Square (SQ) i PayPal (PYPL) both have adopted bitcoin.
“Last week’s volumes were 70% above the daily average for the year … suggesting a larger turnout in this rally than it has historically been,” said James Butterfill, CoinShares investment strategist. “It’s worth noting that investors are beginning to see bitcoin as a viable gold alternative.”