Bitcoin is back to its usual highs. In the middle of the pandemic, the world’s best-known virtual currency is quoting above US$20,000, a figure higher than the previous high of US$19,873 that was reached at the end of November.
This Tuesday, the price of bitcoin soared to US$20,000 and it is now quoted above that figure. In the last 24 hours the currency has soared by 4.22%. This year alone, Bitcoin has already appreciated by over 180%, according to data from CNBC’s Coin Metrics.
This year, Bitcoin’s performance is being driven by major investors such as Paul Tudor Jones and Stanley Druckenmiller, who have transferred their own assets to cryptomime, CNBC says. In addition, PayPal announced at the end of October that it will soon allow the purchase of Bitcoin and other crypto currencies, as well as payments with virtual currencies.
After an unprecedented rally at the end of 2017, Bitcoin collapsed during 2018, hitting a low of around $3,400.
Bitcoin was created in 2007/2008 by Satoshi Nakamoto, whose true identity (or identities) is still unknown. Its operation is based on a technology called blockchain, which makes it possible to keep an inviolable record of transactions from the outset, ensuring that the supply of virtual currencies is limited.
