World’s flagship crypto Bitcoin is raging up at a speed not seen in the crypto-verse.
The first decentralised cryptocurrency surpassed $30,823.30 at 1313 GMT, according to data compiled by the Bloomberg news agency, having broken $20,000 on December 16.
The new milestone is coming on the heels of record-buying seen from high net worth individuals buying at record highs.
Crypto investors were left cashing in big time, as the most popular crypto rallied to record highs more than 25 times in a few days.
Analyst Timo Emden noted that “the appetite for risk”, which is reflected in buying of bitcoin, “remains unshakeable”.
“More historic highs could follow,” the Germany-based analyst added.
The blockchain currency has only been around for a decade or so, and in 2020 it has seen demand grow from larger U.S. investors, attracted by its perceived inflation-hedging qualities and potential for quick gains, as well as expectations it would become a mainstream payments method.
Investors said the limited supply of bitcoin – produced by so-called “mining” computers that validate blocks of transactions by competing to solve mathematical puzzles – has helped power upward moves over recent days. Some also saw it as a safe-haven play during the COVID-19 pandemic, akin to gold.
