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January 7, 2021 06:40 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/3CM6htmtz7o/bitcoin-soars-to-40000-doubling-in-less-than-a-month
Bitcoin Soars To $40,000, Doubling in Less Than a Month
Bitcoin surged to $40,000 for the first time, doubling in value in less than a month and pushing the total market value of cryptocurrencies beyond $1 trillion. From a report: Cryptocurrencies hit the milestone after a fivefold climb in market value in the past year, data from tracker CoinGecko shows. Strategists have cited demand from speculative retail traders, trend-following quant funds, the rich and even institutional investors as among the reasons for the surge. Bitcoin rose as much as 11% on Thursday to $40,065 and has more than quadrupled in the past year, according to a composite of prices compiled by Bloomberg. It accounts for about two-thirds of cryptocurrency market value, followed by Ether at about 13%, according to CoinGecko data.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/3CM6htmtz7o/bitcoin-soars-to-40000-doubling-in-less-than-a-month
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