Bitcoin hits $19,000 for first time in three years

Bitcoin has gained over 37% in November alone

Reuters

24 November, 2020, 04:25 pm

Last modified: 24 November, 2020, 04:54 pm

A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustration taken December 8, 2017. Photo: REUTERS/Benoit Tessier/Illustration

Bitcoin hit $19,000 on Tuesday for the first time in nearly three years and was just shy touching an all-time high of just under $20,000.

Bitcoin at $100,000 in 2021? Outrageous to some, a no-brainer for backers

The world's most popular cryptocurrency has gained around 160% this year, fuelled by a demand for risk-on assets amid unprecedented fiscal and monetary stimulus, hunger for assets perceived as resistant to inflation, and expectations that cryptocurrencies would win mainstream acceptance.

Bitcoin has gained over 37% in November alone.

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.