BITCOIN UP 146% SINCE JANUARY 1
(CNBC.com) – Bitcoin is on a tear this year. The cryptocurrency just hit $17,000 — a level it hasn’t breached in nearly three years — continuing a wild run that’s reminiscent of its monster rally in 2017.
The price of bitcoin was up over 4% in the last 24 hours, trading at $17,030 and hitting its highest point since Jan. 7, 2018, according to data from industry website CoinDesk.
Industry insiders say that bitcoin’s climb this year — which has seen it rise 146% year-to-date — is down to a number of factors, including a wave of Covid-related government stimulus and interest from big-name investors like Paul Tudor Jones and Stanley Druckenmiller.