Bitcoin surges anew, posts near Sunday record of $34,800
After recording an all-time high of $34,800 in Asia trade on Sunday, Bitcoin continued to post upbeat figures, hitting $33,365 in Asia on Monday trade. With sustained support from investors, Bitcoin is on its way to becoming a mainstream asset.
Less than three weeks ago, Bitcoin posted its milestone of reaching $20,000 for the first time. On Monday trade, the most popular cryptocurrency has surged 800% since mid-March.
Bitcoin’s cap supply of 21 million is seen by some as a hedge while others as a safe haven, just like gold. It is also seen as a sign of the crypto coin’s ascendance to mainstream payment methods as Paypal opens its network to cryptocurrencies.
Bitcoin’s surge has also opened doors of opportunities for potential quick gains which attract investors from other financial markets, including the equities market.
Meanwhile, Ethereum, the second-largest crypto coin, spiked to $1,014 on Sunday.