Bitcoin vaulted above US$29,000 to reach yet another record level on the last day of 2020, showing no signs of slowing down its torrid December rally. The largest cryptocurrency climbed to US$29,292 as of 8:42 a.m. in Hong Kong Thursday, pushing its December advance to 50 percent. Bitcoin is on track for its biggest monthly gain since May 2019. Bitcoin has now quadrupled in value this year amid the global coronavirus pandemic, while the wider Bloomberg Galaxy Crypto Index tracking the largest digital currencies is up about 280 percent as rival coins such as Ether have also rallied.

Source: The Standard December 31, 2020 02:13 UTC