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.
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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