Bitcoin exceeds $21,000 for the first time

The price of Bitcoin has exceeded the threshold of $21,000 for the first time.

The cryptocurrency was worth just under $21,340 on the Bitstamp trading platform as of Wednesday evening.

It shot past the previous record of $19,700 in November.

Bitcoin, like other commodities has seen growth in value during the pandemic and has benefited as interest in digital currencies seems to have risen again in recent months after a prolonged lull.

Other reasons for the increase in value are a relative scarcity and and Paypal’s plan to allow customers to pay with cryptocurrencies

In general, interest from professional investors seems to have increased, after private investors with smaller funds first came on board.

Source: GNA