Bitcoin briefly surpassed the $ 28,000 level, as the world’s leading digital asset continues to rise, reaching a new historical record virtually every hour.
Number one crypto was trading for up to $ 28,300 at 2:15 pm GMT before recovering to its current price of $ 27,273, according to data tracked by CoinDesk.
The token gained almost 12 percent on a day-to-day basis, with its market capitalization jumping to $ 515 billion, placing Bitcoin in eleventh place among the top global assets such as Facebook, Apple, Visa and Tesla. Bitcoin’s dominance index reportedly exceeded 70 percent for the first time since March 2017.
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Earlier this month, a report by international data company Chainalysis revealed that the historic resurgence in Bitcoin’s price was driven primarily by institutional investors, many of whom are new to the crypto world. Major investors added $ 11.5 billion in bitcoins in the previous three months, which reportedly doubled the price of the crypto pioneer.
Invented 12 years ago by an unknown person or group of people under the name of Satoshi Nakamoto, Bitcoin started trading in 2009 as a cryptographic asset based on a decentralized blockchain-based network. The system aims to provide secure point-to-point transactions that are not subject to central bank policies or regulations.
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