After Bitcoin surpassed the symbolic benchmark on Wednesday, it continued to rise until late in the evening. It last traded at around $ 21,851, according to data provider Refinitiv.
Bitcoin ( got a tear this year after the value tripled. It and other cryptocurrencies were attractive to investors as the US dollar weakened. “It is no surprise to us that Bitcoin has hit $ 20,000, but it is a very symbolic threshold that must be reached for Bitcoin at the end of a historic year,” said Michael Sonnenshein, Managing Director of Grayscale Investments. “These are just the beginning, and we believe there is a lot more runway left.” With the Federal Reserve expected to keep rates near zero for a few more years, Bitcoin may continue to gain new fans. Well-known names add to the mainstream appeal of Bitcoin. A top manager at )BlackRock ( even said that the cryptocurrency can replace gold and payment giants )square ( and )PayPal ( Both have chosen Bitcoin. “Last week’s volumes were 70% above the daily average for the year … indicating more participation in this rally than before,” said James Butterfill, investment strategist at CoinShares. “It’s worth noting that investors are beginning to see Bitcoin as a viable gold alternative.” )