Bitcoin Extends Gain to Breach $38,000 Per Coin

There seems to be no end in sight for the world’s most capitalised cryptocurrency Bitcoin as institutional investors continue to dump more money on cryptocurrency assets.

Bitcoin gained 10.14 percent or $3,526.1 per coin in the last 24 hours to settle at $38,319.58 per coin as at 2:50 pm Nigerian time on Thursday.

The digital coin has now gained 32.29 percent in 2021 alone.

Investors traded Bitcoin worth $12.06 billion in 398,455 transactions in the last 24 hours while the average transaction fee stood at $11.81.

Bitcoin market capital rose to $711.885 billion, accounting for 69.74 percent of the global crypto market value.

However, the surge may not be unconnected to the Trump mob that stormed Capitol on Wednesday to disrupt the joint congress session and further up global uncertainty, especially with investors now doubting the acceptability of Joe Biden as President of the United States by the wider population given the size of people that voted for Trump.