Bitcoin’s price jumped well above USD 25k, hitting as high as USD 25,890 on Saturday morning (EST). The crypto asset has a total market value of $ 476 billion this weekend and is up more than 6.8% in the last 24 hours.
The overall cryptocurrency Market capitalization of all crypto assets in existence today is about $ 665 billion and more than 3.8% in the day. Bitcoin (BTC) has crossed the $ 25,000 mark and is currently trading at $ 25,700 per unit. At the time of publication, there is $ 11.6 billion in reported trading volume for it BTC trading pairs. BTC is up more than 6% in the week, 48% in the last month and 136% in the last 90 days. The cryptocurrency against the US dollar is up 250% in the past year.
There are 18 mining pools that have SHA256 hashrate to the Bitcoin (BTC) network and F2pool lead the peloton on Saturday. From the current 133 exahash per second (EH / s) BTC hashrate, F2pool captures 24.3 EH / s or 18.2% of the total hashrate. The issue rate or inflation rate of Bitcoin per year is currently 1.78% on December 26, 2020. While BTC has hit new price highs, gold bug Peter Schiff said regulators will soon be going after bitcoin.
“Bitcoin hits new all-time highs as its dominance of the total crypto market cap soars to 69.3%,” Schiff tweeted such as BTC jumped above the $ 25k handle. “Since March 2017 it has not been more than 70%. As regulators are targeting altcoins, speculators are taking cover in Bitcoin. Not as long as Bitcoin will eventually also be in the crosshairs. When one person asked who would sue the SEC and jokingly said “Satoshi,” Schiff replied, “No, only companies that allow bitcoin trading, or banks that facilitate bitcoin-related wires.”
Meanwhile, a host of crypto advocates on social media and forums celebrated the $ 25,000 prize. Bitcoin just touched $ 25,500. I said a month ago it would be $ 25,000 by the end of 2020, ”one person wrote on Twitter. The founder of BitgiveConnie Gallippi, tweeted: “Holy Moly $ 25k, Moon Day – everyday bitcoin.”
“Hey Elon Musk, are you buying bitcoin?” another person asked Tesla founder on Twitter.
Michael Saylor, the CEO of Micro strategy, the company that bought thousands of bitcoins to hold as reserves said, “cash is a haven from risk, but it comes at a price.” “Would you sacrifice 98% of your chance to avoid tomorrow’s uncertainty?” Saylor tweeted after bitcoin surpassed $ 25,000. “Volatility is vitality. Bitcoin is Hope, ”he added. Plan B, the creator of stock-to-flow (S2F), wrote, “The start of this bitcoin bull run feels more like 2013 than 2017.”
What do you think about bitcoin crossing the $ 25k mark on Saturday? Let us know what you think about this topic in the comments below.
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