Bitcoin hit a new record high, with its price rising to $34,375 and its profits more than 300% this year, amid increased interest from larger investors.
The price of the world's most popular cryptocurrency most recently stood at $34,375, recording gains of 3.7%. Its value has skyrocketed by almost half since it first broke the $20,000 threshold on December 16.
Demand for bitcoin is constantly increasing from larger US investors, who are particularly attracted by the perception that it offers coverage for inflation and from the prospect of quick profits as well as expectations that it will be a normal means of payment.
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