Bitcoin peaks above $20,000 for the first time, on the 16th Wednesday, 2020, hitting another benchmark in a bitcoin-rewarding year that saw the digital currency double more in it’s value. Bitcoin has been threatening the symbolic $20,000 barrier for some time and finally it has broken through.
The world’s biggest cryptocurrency surged as high as 10% to $21,293 in New York on Wednesday. This proved all predictions about it months ago and yielded an even greater prediction. Bitcoin has almost tripled in value this year, with the rally increasing Wednesday after breaching $20,000 earlier for the first time.
Bitcoin surges past $20,000 For The First Time
Ruffer, a UK-based investment management company with more than £20bn in assets under management, last month made a bet on bitcoin that is now worth around £550m, in one of the biggest signals of growing demand among traditional investment managers.
Bitcoin’s latest record high has reminded many market watchers of its close rally to nearly $20,000 in 2017. Although, this was followed by a quick fall the following year that saw it fall close to $3,000.
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Cardtonic has gone a step ahead in ensuring the convenience of bitcoin trading. This is coming shortly after the launch of its bitcoin and gift card trading mobile app.
A number of people have interpreted this new ground-breaking development as the latest signal that digital currencies are indeed the future. Pressing on, some institutions have been making a great obvious purchases of bitcoin. One of these institutions is MassMutual. It had its recent decision to invest $100 million into the digital currency.
One other major example is software company MicroStrategy’s recent decision to purchase well over 40,000 units of bitcoin this year, spending approximately $475 million between three separate transactions and generating significant headlines in doing so.
In addition to these moves, MicroStrategy recently sold more than $600 million worth of notes, with the intention of using the proceeds to buy this cryptocurrency.
This hit sets each Bitcoin at over ten times the cost per ounce of gold, and is yet another step in the cryptocurrency absorbing the precious metal’s market cap, before moving onto other asset classes.
However, given the targets experts anticipation at the height of the next bull market. It is unlikely any of these levels will act as a “top” for crypto. With $20,000 now cleared, the cryptocurrency is without any iota of doubt in a new top market, and the sky is extremely clear for bitcoin, once again.
Cardtonic operates as a trading platform with direct gift card brokers. Cardtonic also provides flexible trading options to allow the ease of trading. This platform allows the option of trading via Instant messenger, website, and a mobile app for convenience.
Trading is done easily through the mobile app, website, and instant messengers. Moreover, this platform processes over 10,000 transactions each month. Given so much volume, the company possesses a brilliant reputation for being secure and reliable.