Bitcoin, the leading cryptocurrency has crossed the $40,000 threshold hours after it went for $38,000.
In December 2020, the cryptocurrency sold for more than the $19,783 it sold in the year 2017.
Although market predictors said that the price of Bitcoin would drop, it has continued to grow in value, swelling past 13.45% in just 24 hours.
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Significant investments in the cryptocurrrency include Anthony Scaramucci’s Skybridge Capital $182 million investment made in the month of December, while MassMutual invested the sum of $100 million in the same month and Guggenheim Investments invested 10 percent of its $5 billion macro fund.
The cryptocurrency market is currently valued at $1 trillion, of which bitcoin has a market value of $746 billion, which predictors expect will grow now that the US Democratic Party has major control of both the Senate and the House.
