The world’s best-known cryptocurrency traded above a record high of $ 40,000 on Thursday afternoon, representing a doubling of assets in less than a month as it makes an almost daily assault on new peaks. .
A BTCUSD bitcoins floor,
at CoinDesk traded at a high of $ 40,402, before retiring at $ 38,632, at the last check. Bitcoin hit $ 20,000 for the first time in mid-December, at that time the highest trade recorded.
Bitcoin already rose 32% in January, after recording a return in 2020 of around 300%. Earnings for bitcoins and other alternative currencies, or virtual currency alternatives to bitcoin, have so far surpassed traditional stocks and bonds, even with the Dow Jones Industrial Average DJIA,
the S&P 500 SPX index,
and the Nasdaq Composite Index COMP,
trading near records Thursday.
Fans of digital assets say the rally for bitcoin and its rate differs this time from the fervor of 2017 and could indicate a much more sustained rise for cryptocurrencies.
The recent rally has been bolstered by rising interest in bitcoin by institutional investors and central bankers expressing a desire to create their own digital currencies.
Some market participants say bitcoin may be driving away some demand for gold, considered the traditional safe haven asset, with a 5,000-year reputation as a currency and store of value.
JPMorgan Chase & Co. strategists they speculated that a bitcoin could soon be worth the $ 146,000 if it starts taking more money from traditional gold buyers, something researchers think could already be happening.
Bitcoin investors have been drawn to the narrative that it could act as a storehouse of wealth amid the central bank’s money press in 2020 to bolster the economic recovery from the coronavirus pandemic.
In addition, PayPal PYPL,
has recently allowed users of its platform to buy bitcoins, as well as other sister cryptocurrencies such as Ethereum’s Ether ETHUSD,
coins, Bitcoin Cash BCHUSD,
and Litecoin LTCUSD,
Square SQ,
The popular Cash app also allows users to buy and sell bitcoins.