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Bitcoin hits new all-time high above $23,000, extending its wild 2020 rally
Bitcoin hit a fresh record high above $23,000 on Thursday, extending a wild rally for the cryptocurrency that has seen it more than triple in value this year. The world’s most-valuable digital currency surged 12% to $23,421, according to crypto market data provider Coin Metrics, taking its year-to-date gains to more than 200%. Bitcoin only just smashed the $20,000 mark on Wednesday. Bitcoin later pared back its gains slightly, trading over 9% higher at about $22,787 by 7:30 a.m. ET. Crypto bulls have pointed to increased demand from institutional investors, pitching bitcoin as a hedge against inflation like gold ... (full story)