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According to CoinDesk on the 26th (local time), the price of bitcoin reached a record high of $25,055.53 at one time during the day. Thanks to the bullish trend that has continued since Christmas, it broke even the strong resistance of $25,000. In Bithumb, the domestic exchange, the price of bitcoin exceeds 27.3 million won.
Bitcoin is gaining more than 3.2% this week alone. Investors also tagged’Happy Bitmas’ through social media and celebrated the rise of Bitcoin.
This rise in bitcoin can be interpreted as a result of the expanding investor base. In fact, according to Blockchain.com, the number of e-wallets created on virtual asset exchanges so far this year has increased by 40.46%. In the year since December of last year, the number of new wallets has increased by 18 million.
In response, Garrick Heilman, CEO of Blockchain.com Research, predicted that if investors take bitcoin’s status seriously, the market capitalization of bitcoin could increase to $1 trillion next year. Currently, the market cap of bitcoin is at $350 billion, and the market cap of gold is maintained at $10 trillion.
Geoffrey Curry Goldman Sachs Strategy said in an investor note that “the current rate of gold returns relative to real interest rates has been relatively low, due to concerns that bitcoin may partially replace gold status as a means to hedge inflation.” .