Key points
- It has touched a record high of $111,988.90
- Bitcoin’s rally also spread to other cryptocurrencies
ISLAMABAD: Bitcoin reportedly climbed to an all-time high near $112,000 late on Wednesday, according to Reuters.
It touched a record peak of $111,988.90 and was last up 0.4 per cent at $111,259. Since the beginning of the year, bitcoin has advanced more than 18 per cent, the Reuters reported.
“Bitcoin is the only asset I am aware of where it becomes less risky as it grows in size,” Reuters cited Anthony Pompliano, founder and CEO of Professional Capital Management as saying.
Digital currency
“There were few sophisticated capital allocators who could gain exposure when bitcoin was $100-200 billion market cap. Now that the asset is measured in trillions, almost every capital allocator on the planet can put the exposure on.”
Bitcoin’s rally also spread to other cryptocurrencies.
Ether, the second-largest digital currency in terms of market capitalisation, also rallied, hitting a one-month high of $2,794.95. It last traded up 5.4 per cent at $2,740.99.
