The price of leading cryptocurrency, Bitcoin, has reached a record $40,000 just hours after it sold for $38,000.
The progress began in December 2020 when it broke the $19,783 price it recorded in 2017.
While bearish traders expected that the December rise would drop in no time, Bitcoin continued to rise in value with a growth of 13.45% over the last 24 hours.
Bitcoin which is seen as a digital gold has attracted institutional investments into the cryptocurrency market.
READ ALSO: Electricity: Suspend Tariff Adjustment For Now, FG Directs NERC
Some of the investments reported by Coindesk include Anthony Scaramucci’s Skybridge Capital ($182 million in December); insurance giant MassMutual ($100 million in December); and Guggenheim Investments (up to 10% of its $5 billion macro fund).
Bitcoin now controls $746 billion of the $1 trillion value of the cryptocurrency market. This is expected to grow with the Democratic Party now in control of both the House and the Senate in America.
Other crypto like Ripple’s XRP and Ethereum have also recorded significant growth in recent weeks.
President Bola Tinubu will on Sunday receive Indian Prime Minister, Narendra Modi, for a state…
Prominent politicians are in Kano for the wedding of the son and daughter of Dahiru…
Thirteen Nigerian girls who were trafficked to Ghana have been rescued, the Nigerians in Diaspora…
In response to Wednesday's deadly attack on soldiers, Abia State Police Commissioner, CP Danladi Isa…
Engr. Augustine Uchenna Stephen, a former aide to Dr. Okezie Ikpeazu, the immediate past governor…
Abia State Ministry of Local Government and Chieftaincy Affairs has extolled the virtues of the…