Bitcoin rose to a nearly three-year high as investors continued to scoop the virtual currency on expectations it could well exceed its all-time peak of just under $20,000.
Bitcoin surged to $18,766.79, the highest since December 2017, and was last up 4.9 percent at $18,696. It has gained 17 percent so far this week, the largest weekly gain since June 2019, climbing more than 160 percent so far this year.
“Today bitcoin has gotten to a place where institutional investors, banks, and family offices are legitimately pondering involvement as a defense against currency devaluation,” said Alex Mashinsky, chief executive officer at Celsius Network, a crypto lending platform.
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