The cryptocurrency Bitcoin reached its all-time high as the asset continues a week-long rally.
Bitcoin is trading at over $ 33,000 at one point on Saturday and over the course of the year its price jumped 300% as more people flocked to invest in the blockchain currency. Much of this expansion has happened recently, and Bitcoin is up 50% since it hit $ 20,000 about two weeks ago.
Sergey Nazarov, co-founder of the Chainlink blockchain project, said that some cryptocurrencies from investors like Bitcoin are similar to making an investment in gold, especially despite the global coronavirus pandemic.
“The asset is most likely to exceed $ 100,000 according to the currency,” Nazarov told Reuters on Saturday. “People have been gradually wasting religion in their government’s currency for years, and financial policies resulting from the economic effect of the coronavirus have only accelerated this decline. “
Other cryptocurrencies also saw expansion in 2020, with Ethereum, the biggest moment (after Bitcoin), expanding by 456%.