Bitcoin crosses $30,000 for first time ever

GNN  |  Jan 04, 2021

Digital currency Bitcoin crossed $30,000 for the first time ever, soaring on a rally that had been continuing since before the year ended.

On Saturday, the digital currency traded at $33,099, extending its gains from the previous week as investors bet heavily on Bitcoin turning into a mainstream form of payment.

With other markets in disarray, Bitcoin shrugged off the effects of the pandemic, appreciating more than 300% in value in 2020. It crossed $20,000 just two weeks before other markets closed for the new year weekend. The only mainstream commodity to register an equivalent rise in 2020 was gold.

Ethereum, the second biggest cryptocurrency, also rose 7% on Saturday, capping off 2020 which saw a 465% appreciation in its value. 

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