Bitcoin value breaks all-time high of over $24,000

Bitcoin trading in India rupees
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Bitcoin is trading at above $24,000, its highest ever value tag resulting from a 1.31-per cent increase on December 20, trading data shows.

According to CoinMarketCap, a website averaging data from across over 20 stock markets, Bitcoin was trading at $24,204 as of 20:45 GMT, with a 1.9-per cent value increase.

On Binance, the world’s most popular cryptocurrency gained 1.59 percentage points of value, trading at $24,248.

Bitcoin accounts for approximately 65.6 percent of world cryptocurrency market.

According to data provided by Morningstar for Currency and Coinbase for Cryptocurrency, the cryptocurrency was trading at Rs 17.4 lakh on December 21.

The world’s largest digital currency has more than tripled in value this year, and some observers predict more to come, arguing the cryptocurrency being increasingly seen as a portfolio diversifier at a time of dollar weakness and potential inflationary pressures.

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