Winklevoss comes out of meditation to witness Bitcoins record high – The Next Web

Posted: December 21, 2020 at 2:58 am

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Bitcoin BTC broke $20,000 to set new all-time highs on Wednesday around three years after its previous price record.

Almost on cue, the rally sent major cryptocurrency exchange Coinbase temporarily offline, turning profit-taking from the sudden 6% surge into a headache for traders.

The new record highs sent Bitcoin to the top of Twitters trending topics as BTC fans rushed to hit publish on fire tweets theyve been keeping for the occasion (who can blame them?).

Indeed, the last time Bitcoin was worth this much was in December 2017. But after trading as low as $3,200 a year later more than 80% below its record highs itsback.

The rally comes after a flurry of interest from the covetedinstitutional classthis year.

Jack Dorseys fintech Square allocated 1% of its assets ($50 million) to BTC,followed by the NASDAQ-listed MicroStrategy, which has bought over half a billion dollars worth of the cryptocurrency since August (andplans to buy even more).

Then theres MassMutual, a relatively large mutual life insurance company. It recently announced its general fund was buying up BTC in a bid to diversify its portfolio. So too did UK asset manager Ruffer earlier today.

Not to mention, industry giant PayPal added support for Bitcoin and other cryptocurrencies in October.

Bitcoin is now up nearly 190% in 2020, having jumped from under $7,200 to $20,633 at pixel time.

This is not investment advice. Dont pretend it is. Always do your own research.

Published December 16, 2020 16:10 UTC

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Winklevoss comes out of meditation to witness Bitcoins record high - The Next Web

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December 21st, 2020 at 2:58 am

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