Bitcoin Rose to an All-Time High of $22.124 per Coin

Price of Bitcoin, the world’s most valued cryptocurrency, broke its all-time record to set a new one at $22,124.29 per coin in the early hours of Thursday.

“It’s not a surprise to us that Bitcoin has hit $20K but it is a very symbolic threshold to reach at the end of what has been a historic year for bitcoin,” said Michael Sonnenshein, managing director of Grayscale Investments. “These are just the early days, and we think there’s a lot more runway to go.”

The price of the digital asset continued to surge as institutional investors remain bullish on the unregulated virtual currency and have been dumping money on it following series of expected stimulus by the incoming president of the United States.

Also, Ethereum, the second most capitalised cryptocurrency, rose by 9.84 percent to $641.99 per coin while Ripple jumped more than 24 percent in the last 24 hours to $0.54305 per coin.

Stellar added 17.16 percent to $0.188897 per coin.

“We have a new line in the sand and the focus shifts to the next round number of $30,000,” said Antoni Trenchev, co-founder and managing partner of Nexo, a crypto lender. This “is the start of a new chapter for Bitcoin. It’s a narrative the media and retail crowd can properly latch onto because they’ve been noticeably absent from this rally.”