Winklevoss comes out of meditation to witness Bitcoin’s record high
Bitcoin finally broke $20,000
Bitcoin pumps when Winklevoss meditates?
The new record highs sent Bitcoin to the top of Twitter’s trending topics as BTC fans rushed to hit publish on fire tweets they’ve been keeping for the occasion (who can blame them?).
Indeed, the last time Bitcoin was worth this much was in December 2017. But after trading as low as $3,200 a year later — more than 80% below its record highs — it’sback.
The rally comes after a flurry of interest from the covetedinstitutional classthis year.
Jack Dorsey’s fintech Squareallocated 1% of its assets($50 million) to BTC, followed by the NASDAQ-listed MicroStrategy, which hasbought over half a billion dollarsworth of the cryptocurrency since August (and plans to buy even more).
Then there’s MassMutual, a relatively large mutual life insurance company. It recently announced its general fund was buying up BTC in a bid todiversify its portfolio. So too did UKasset manager Rufferearlier today.
Not to mention, industry giant PayPaladded support for Bitcoinand other cryptocurrencies in October.
Bitcoin is now up nearly 190% in 2020, having jumped from under $7,200 to $20,633 at pixel time.
This is not investment advice. Don’t pretend it is. Always do your own research.
Story byDavid Canellis
David is a tech journalist who loves old-school adventure games, techno and the Beastie Boys. He’s currently on the finance beat.David is a tech journalist who loves old-school adventure games, techno and the Beastie Boys. He’s currently on the finance beat.
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