Bitcoin Sets a New All-Time High at Above $24,700 on December 25, 2020

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Bitcoin has once again broken the all-time high and this time, happening on Christmas Day, December 25, 2020, to hit an all-time high of above $24, 700.

A look at Trading View reveals that bitcoin had hit highs of up to $24, 790 at one point before slightly retracing.

December 2020 has seen bitcoin navigate uncharted waters after crossing the $20, 000 mark which was seen as the major resistance level.

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SEE ALSO: Bitcoin Breaks $20, 000 Milestone – The All-Time High! – See the Reactions

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As usual, Binance, the largest exchange by trade volumes in 2020, was among the first to come out and celebrate this milestone:

Bitcoin has doubt had a crazy decade as the tweet below shows:

The new all-time high, once again, comes at the back of massive institutional investments into crypto with the latest revelation showing that two companies, BitGo and GrayScale, now hold more than $16 billion worth of cryptocurrency assets under custody.

According to Mike Belshe, CEO, BitGo:

“We’re seeing unprecedented interest from institutional investors as a result of the pandemic’s economic impact, as well as Bitcoin’s extraordinary performance.”

           – CEO, BitGo

Both GrayScale and BitGo act as prime brokers for institutional investors for publicly-traded companies and privately-held firms.

Below is a breakdown of publicly-traded companies that hold the most amount of bitcoin as of December 2020:

  • GrayScale – $13.9 billion
  • MicroStrategy – $1.72 billion
  • CoinShares – $1.7 billion

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RECOMMENDED READING: How the World’s Major Currencies have Depreciated Over Time vs Bitcoin’s Value in 10 Years – A Historical Calculation

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