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After hitting $25,000 on Dec. 25 and $26,000 on Dec. 26, quite naturally the price of bitcoin (BTC) soared past $27,000 early on Dec. 27 as the leading cryptocurrency’s recent meteoric rise continues. BTC’s market value now exceeds $500 billion.
Recently, BTC has been leaving a string of broken records in its wake after passing the psychologically key $20,000 mark for the first time ever on Dec. 16.
In the last several days BTC seems to found yet another gear, breaking through $25,000 Friday night for the first time, and going through $26,000 Saturday afternoon like a hot poker through one-ply tissue.
Roughly half a day later, BTC surged to a new all-time high of $27,666.17 early Sunday morning, before settling down to $27,519.52 at this writing, up 11.04% in the last 24 hours.
Year-to-date BTC is up more than 270%.
Institutional investors are perceived to be driving this record-setting run. Among them: Anthony Scaramucci’s Skybridge Capital ($25 million in December); MassMutual ($100 million in December); and Guggenheim (up to 10% of its $5 billion macro fund).
Ricardo Salinas Pliego, chairman at conglomerate Grupo Salinas and Mexico’s second richest man, has revealed to Cointelegraph in an interview that he bought his first Bitcoin in 2013, when it was worth around $200. That, according to the billionaire, was his “best investment ever”.
After holding it all the way until its 2017 highs, he sold all his positions at $17,000 and bought it again later at a cheaper price.
“We always return to the scene of the crime”, he joked.
Now Salinas holds around 10% of his liquid portfolio in BTC and doesn't plan to sell any of it any time soon.
The folks at Deribit apparently think betting on a $100,000 bitcoin (BTC) price is so earlier-this-month because on Friday, mere hours before the leading cryptocurrency hit $25,000 for the first time, the crypto derivatives exchange announced contracts on $120,000 BTC with $140,000 added on Saturday morning.
A week ago last Thursday, Deribit made waves in the cryptocurrency industry by introducing call and put options at the $100,000 strike price expiring on Sept. 24, 2021.
The purchase of a $100,000 call is a bet that bitcoin (BTC, +11.34%) will rise above that level on or before Sept. 24, 2021, making the option “in-the-money.”
When those options went live, BTC was in the midst of a stunning run into uncharted territory past $20,000, setting a then-record high of $23,770 on the day those $100,000 options went live.
Cryptocurrency exchange Bitstamp said it’s halting XRP trading and deposits for all U.S. customers on Jan. 8, 2021, because of the U.S. Securities and Exchange Commission’s recent filing, alleging XRP is a security.
U.S. customers will be able to withdraw their XRP even after trading is halted, Bitstamp said.
Other countries are not affected, Bitstamp said.
Bitstamp is the first major cryptocurrency exchange to take action on XRP (-14.58%) in response to the SEC's lawsuit against Ripple Labs.