Bitcoin trades near Sunday record of $34,800 following 800% surge
By Kevin Buckland
TOKYO (Reuters) – Bitcoin traded at $33,365 in Asia on Monday, after hovering to a record extreme of $34,800 on Sunday as patrons proceed to guess the digital international cash is on its method to becoming a mainstream asset.
The latest milestone for the world’s hottest cryptocurrency received right here decrease than three weeks after it crossed $20,000 for the first time, on Dec. 16, and bitcoin has now surged some 800% since mid-March.
With bitcoin’s present capped at 21 million, some see it as a hedge in opposition to the hazard of inflation as governments and central banks activate the stimulus taps in response to the COVID-19 pandemic. Some moreover view it as a safe-haven play all through the COVID-19 pandemic, akin to gold.
“Some of it is reflecting the …