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Bitcoin Hits Latest All-Time High of $26,500 on Boxing Day

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Bitcoin Hits Latest All-Time High of $26,500 on Boxing Day

$26k! Bitcoin’s got a new all-time high, even higher than this afternoon’s all-time high, this morning’s, yesterday’s and those broadcast in our countless other ‘all-time high’ articles over the past few months, each of which Decrypt, perhaps out of cynicism, thought could last us for a long time. But on and on Bitcoin goes, ever upward, with poise.

Today, Bitcoin hit $26,557, according to data from metrics site CoinMarketCap. After it limped to $25,000 at the start of the day (UTC), Bitcoin jumped from $24,923 at 2 pm to $25,196 and then spent the rest of the afternoon marching slowly to $26,000. In a burst of energy, traders at about 8:30 pm shunted the price up from $25,948 to $26,557, Bitcoin’s new all-time high.

Bitcoin’s price is still $26,503, as of this writing. That marks an 8.43% increase in the past 24 hours.

Bitcoin’s market cap is currently $490 billion. As Decrypt reported earlier today, Bitcoin has surpassed both Visa and Mastercard in terms of market capitalization.

Why Bitcoin rose to the next $1,000 bracket this evening is anyone’s guess. But in recent months, the general consensus is that institutional investors have bought up huge swathes of Bitcoin. MicroStrategy has bought about $1 billion in Bitcoin, MassMutual another $100 million, and SkyBridge Capital $25 million.

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
BlackRock (IBIT), the Grayscale Bitcoin Trust (GBTC), Fidelity (FBTC), Ark Invest/21Shares (ARKB), Bitwise (BITB), Franklin (EZBC), Invesco/Galaxy (BTCO), VanEck (HODL), Valkyrie (BRRR), WisdomTree (BTCW), Hashdex (DEFI)

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