Bitcoin Remains High
Cryptocurrency remains strong, renews historical record and accumulates gains of 240% in the year.
The bullish movement intensified in October, when bitcoin was trading at $ 10,000. Since then, less than two months later, cryptocurrency has risen by almost 150%.
2020 was undoubtedly a market due to the increased institutional demand for bitcoin. In recent weeks, following a new trend of institutional investment in bitcoin, American insurer MassMutual has invested $ 100 million in bitcoin. MicroStrategy’s CEO, who had previously purchased $ 425 million in cryptocurrency, also announced the issuance of $ 650 million debt securities to acquire more BTC and has already accumulated more than $ 1 billion. Several international funds and major players are beginning to expose themselves to bitcoin as a storehouse of value.
The movement is now popularizing even services – in November, the giant PayPal started allowing its customers to trade bitcoin.
In addition to bitcoin, major cryptocurrencies are also operating at a strong high on this Christmas day. Ethereum rises 8.75% to $ 629. XRP is recovering from the brutal drop and is up 44% on the day. Litecoin, Bitcoin Cash and Cardano are up 16.6%, 14.06% and 14% respectively.
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