Bitcoin Tops $26K for First Time, Less Than a Day After Passing 25K

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Dec 26, 2020 at 8:43 p.m. UTCUpdated Dec 26, 2020 at 8:50 p.m. UTC

Bitcoin Tops $26K for First Time, Less Than a Day After Passing 25K

The price of bitcoin (BTC) passed $26,000, hardly resting after blowing through what was supposed to have been the landmark level of $25,000 less than 24 hours earlier.

Recently, the leading cryptocurrency has been leaving a string of broken records in its wake at an increasingly rapid pace after passing the psychologically key $20,000 mark for the first time ever on Dec. 16.BTC broke $25,000 Friday night for the first time, and set a new all-time high of $26,368.16 Saturday afternoon, before settling back to $26,246.72, up 7.39% on the day. Year-to-date BTC is up more than 250%.Institutional investors are perceived to be driving this record-setting run. Among them: Anthony Scaramucci’s Skybridge Capital ($25 million in December); MassMutual ($100 million in December);  and Guggenheim (up to 10% of its $5 billion macro fund).And there are those who think BTC is just getting started. Scaramucci has said BTC is in the early innings and this afternoon, crypto venture capitalist and bitcoin evangelist Tim Draper tweeted that the price of the leading cryptocurrency could rise ten-fold by the end of 2022.
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