Bitcoin exceeds $20,000 for the first time in history

On Wednesday, the value of Bitcoin soared to break the $20,000 barrier for the first time, its highest ever, as its value rose by 4.5% to $20,440, and enjoyed an overall growth of 170% this year, supported by increasing demand from large investors attracted by the possibility of quick profits and the advantage of alleged resistance to economic inflation.

Expectations indicate that it will be adopted as the main payment method, and the sharp rise in the value of Bitcoin has witnessed a massive influx of currency from East Asia to North America due to the intense desire to buy Bitcoin, which has spread among large American investors and imitators who are afraid to miss the investment opportunity.

The rise of the bitcoin currency coincided with the decline in the value of spot gold trading in the past months, and some investors considered bitcoin a “safe haven” for their investments, but others previously refrained from entering the digital currency market such as reserve funds and family finance offices due to the ambiguous nature of this market, The move to tighten control over the cryptocurrency industry in America helped reduce these concerns among investors.

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