The price of bitcoin (BTC) passed $26,000, hardly resting after blowing through what was supposed to have been the landmark level of $25,000 less than 24 hours earlier.
- Recently, the leading cryptocurrency has been leaving a string of broken records in its wake at an increasingly rapid pace after passing the psychologically key $20,000 mark for the first time ever on Dec. 16.
- In addition, the U.S. Federal Reserve, along with other central banks, has been printing money with abandon trying to stave off the worst economic effects of the pandemic while U.S. President Donald Trump has been pushing Congress to pass an even bigger relief package to allow for larger stimulus checks. These actions are viewed by many as likely catalysts for inflation, against which BTC is viewed as a hedge.
- There are those who think BTC is just getting started. Scaramucci has said BTC is in the "early innings" and this afternoon, crypto venture capitalist/bitcoin evangelist Tim Draper tweeted that the price of the leading cryptocurrency could rise ten-fold by the end of 2022.
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.