Bitcoin hits all-time high rising above $20,000

Sun Online Desk

17th December, 2020 12:19:40 printer

Bitcoin hits all-time high rising above $20,000

Bitcoin has hit a new all-time high breaking through $20,000 (£14,800).

The volatile virtual currency has gained more than 170% this year amid stock market turmoil.

On Wednesday Bitcoin jumped 4.5% to as much as $20,440 buoyed by demand from large investors keen on its potential for quick profits.

There are also expectations that it may gain more widespread traction as a payment method from the likes of Starbucks and Microsoft.

But it has been a bumpy ride for investors, with the cryptocurrency passing $19,000 in November before dropping sharply, BBC reported.