Karachi: Bitcoin, rises to $35,879 on Wednesday, was trading above $35,000 for the first time in Asia.
The world’s most famous cryptocurrency, on Dec 16, 2020, had reached $20,000 for the first time almost three weeks earlier.
Bitcoin hit a peak of $20,800 and gained 170pc or more for the year 2020 which remained in demand for the investors.
The digital currency’s rally saw an enormous flow of coin from Asia to North America as the demand increased for the currency by bigger investors in the US.
according to Reuters’s report British fund manager, Ruffer Investment Management made a bet on bitcoin which is worth $745 million.
On the one hand, some investors view the rally in bitcoin as a possible safe haven.
On the other, some are discouraged by the uncertain nature of the crypto market. However, the crypto industry in the United States helped alleviate some of these fears.
The digital currency, after touching the hight in November, went below $17,000 and sparked the concerns of collapsing again in 2018.