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Bitcoin Tops $24K, Setting New All-Time High
Bitcoin cut through $24,000 Saturday afternoon, setting a new record high as the leading cryptocurrency's ongoing rally continues.
Updated Sep 14, 2021, 10:45 a.m. Published Dec 19, 2020, 4:32 p.m. 1 min read
Bitcoin cut through $24,000 Saturday afternoon, setting a new record high as the leading cryptocurrency's ongoing rally continues through the weekend before Christmas.
- The price of bitcoin continued its recent torrid run, setting a new all-time high of $24,122.67 before falling back to $23,978.86, up 5.49% on the day.
- The record price comes two days after bitcoin first sliced through the $23,000 price point amid its more than 12% intraday gains.
- With the latest price increase, bitcoin's year-to-date percentage gains have grown to over 225%.
- Social media is lighting up with bitcoin-related chatter as mainstream audiences pay increasing attention to bitcoin's sustained rally. Tweets about bitcoin neared three-year highs Thursday, per CoinDesk's prior reporting, as record prices attract increasing attention.
- Coinciding with the weekend price jump, Christopher Wood, global head of equity strategy at investment firm Jefferies, is reportedly planning to cut his exposure to gold for the first time in years in favor of a first-time-ever position in bitcoin. Wood is set to cut his gold position from 50% to 45% and initiate a 5% bitcoin holding.
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"An Agreement has been largely negotiated, subject to finalization between the United States of America, the Islamic Republic of Iran, and the various other Countries," wrote President Trump late Saturday afternoon.
What to know:
- Down sharply earlier Saturday, bitcoin moved to gains on the day after President Trump announced a peace agreement with Iran and other Middle Eastern countries.
- As part of the deal, Trump said, the Strait of Hormuz will be reopened.
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