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Bitcoin reaches $19,000 for first time since 2017

The world's most popular cryptocurrency was last up 3.2% at $18,958. Bitcoin has gained nearly 40% in November alone and is up around 160% this year

Reuters | Tuesday, November 24, 2020 | 16:31 IST

Bitcoin hit $19,000 on Tuesday for the first time in nearly three years, homing in on its all-time high of just under $20,000.

The world's most popular cryptocurrency was last up 3.2% at $18,958. Bitcoin has gained nearly 40% in November alone and is up around 160% this year.

Fuelling its gains have been demand for risk-on assets amid unprecedented fiscal and monetary stimulus, hunger for assets perceived as resistant to inflation, and expectations that cryptocurrencies would win mainstream acceptance.

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