MOSCOW (Sputnik) – Bitcoin, the world’s most popular cryptocurrency, has surged past the $26,000 level to set an all-time record high, according to trading data.
Bitcoin was trading at $26,286.74 as of 20:45 GMT on Saturday, according to Binance, the largest cryptocurrency exchange by trading volume, which posted a tweet captioned “Bitcoin won’t let us take a day off.”
According to CoinMarketCap, an aggregator that compiles data from more than 20 brokers, Bitcoin was trading at $26,270.96 as of 20:47 GMT, a rise of 7.36 percent over the preceding 24 hours.
On Christmas Day, the world’s most sought-after digital currency rose above $25,000, but less than an hour later its price quickly returned to $24,908.
In late November, Bitcoin’s value hit $18,000 for the first time since December 2017, prompting traders to suggest it was heading towards its historical high. Founder of TradingAnalysis.com Todd Gordon said at that time that Bitcoin could possibly reach $74,000 in the upcoming year, while a chief investment officer at BlackRock, Rick Rieder, suggested Bitcoin could soon replace gold to a large extent, considering that it was “so much more functional” in use than gold bars.
Bitcoin accounts for approximately 65.6 percent of the world cryptocurrency market.