The world’s best-known cryptocurrency traded at a record high of more than $ 40,000 on Thursday afternoon, a doubling of assets in less than a month as it makes an almost daily attack on new peaks.
One bitcoin BTCUSD,
on CoinDesk traded at a high of $ 40,402, before returning to about $ 38,632 at the last check. Bitcoin reached $ 20,000 for the first time back in mid-December, at the time the largest transaction recorded.
Bitcoin has already grown by 32% in January, after a return in 2020 of about 300%. Earnings for bitcoin and other currencies, or virtual currency alternatives to bitcoin, have so far surpassed traditional stocks and bonds, even with DIA Jones Industrial Media,
the S&P 500 SPX index,
and Nasdaq Composite Index COMP,
trading at or near records on Thursday.
Fans of digital assets say that the rally for bitcoin and its kind differs this time from the fervor of 2017 and could signal a much more sustained rise for cryptos.
The recent rally was supported by the growing interest in bitcoin from institutional investors and central bankers who have expressed a desire to create their own digital currencies.
Some market participants say that bitcoin may attract some of the demand for gold, considered the traditional safe haven asset, with a 5,000-year reputation as a currency and store of value.
Strategies from JPMorgan Chase & Co. they speculated that a bitcoin could soon be worth $ 146,000 if it starts attracting more money from traditional gold buyers, which researchers believe could already happen.
Bitcoin investors have been drawn to the narrative that it could act as a wealth deposit against the central bank’s money-printing in 2020 to boost an economic recovery from the coronavirus pandemic.
In addition, PayPal PYPL,
recently allowed users on its platform to purchase bitcoin, as well as other sister cryptocurrencies, such as Ethereum Ether ETHUSD,
currency, Bitcoin Cash BCHUSD,
and Litecoin LTCUSD,
SQ square,
The popular Cash application allows users to buy and sell bitcoins.