BITCOIN HITS $28,599.99
Bitcoin on Wednesday, December 30, 2020, hit a record $28,599.99, taking gains this year past 295% amid heightened interest from bigger investors, Tom Wilson reported for Reuters.
The world’s most popular cryptocurrency was last up 3.7% at $28,375. Since breaking $20,000 for the first time on Dec. 16 it has surged by nearly half.
Bitcoin has increasingly seen demand from larger US investors, in particular, attracted by its perceived inflation-hedging qualities and the potential for quick gains, as well as expectations it would become a mainstream payments method.
However, critics said cryptocurrencies are not assets and have no intrinsic value, in effect stressing that investor should be prudent and not plunge themselves headlong into gambling with it.