Bitcoin Hits New Record

bitcoin new record
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Bitcoin, being the world most used Cryptocurrency, is about to close the year with another record high!

This digital asset just surged above $28.000 last Wednesday to a new record high, as almost quadruplet in value this year  amid the global coronavirus pandemic, while the wider Bloomberg Galaxy Crypto Index tracking the largest digital currencies is up about 270% as rival coins such as Ether have also rallied.

The latest price surge continues to divide opinion among those who view cryptocurrencies as just a speculative asset.

Paolo Ardoino, chief technology officer of crypto exchange Bitfinex said in an email:

“While a growing institutional presence has been part of the narrative of the current bull run, we may see increased retail interest in Bitcoin as a form of digital gold”

The Securities and Exchange Commission this month accused Ripple Labs Inc. and its top executives of misleading investors in affiliated token XRP and it is one more reason to raise concerns among crypto investors.

Amid recent events with XRP and SEC, Ripple plans to challenge the accusation in the courts, the development underscores the prospect of stricter oversight of digital assets.

XRP has dropped nearly 70% this month and faces more pressure with Coinbase, the latest crypto exchange to announce plans to suspend trading the token.

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