Bitcoin broke on Wednesday (16/12/2020) its all-time high in dollars – and consequently in reais. At 11:48 a.m., the leading cryptocurrency was traded at more than US$ 20,500.
The previous record in dollars had been reached on December 17, 2017. That year, the cryptocurrency valued itself up to US$ 20,089.
Bitcoin’s new all-time high occurs in the year of halving
The historic high still happens in the same year as the third bitcoin halving. The event cut the issuance of new bitcoins in half. Rising demand has pushed the price up, even in an atypical year in the markets – due to the effects of Covid-19 on economies.
Bitcoin’s all-time high also reflects increased interest in cryptocurrency. Recently, PayPal and CashApp announced bitcoin-linked services, which caused demand for new currencies to outperform supply.
Bitcoin’s new record also confirms Transfero Swiss’s investment thesis that bitcoin would be the best investment in the biennium 2020 and 2021.