Bitcoin Hits $25K for First Time Ever, Approaches $26K
The event happened just a week after the leading cryptocurrency broke $24,000.
Dec 26, 2020 at 3:40 a.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/SMKDMCETEFGL7PMMTTAOOVOSPQ.jpg)
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The price of bitcoin (BTC) topped $25,000 for the first time ever, a mere week after breaking $24,000 for the first time.
- The price of the leading cryptocurrency continued its recent torrid pace, breaking $25,000 Friday night for the first time, and setting a new all-time high of $25,914.46 Saturday morning, before falling back to $25,669.62, up 6.18% on the day. Year to date, BTC is up more than 250%.
- Institutional investors are perceived to be driving this record-setting run. Among them: Anthony Scaramucci’s Skybridge Capital ($25 million in December); MassMutual ($100 million in December); and Guggenheim (up to 10% of its $5 billion macro fund).
UPDATE (Dec. 26, 16:29 UTC): Adds new all-time high.
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