Technology

November 01, 2020

Bitcoin hits its highest price in nearly 3 years

Source: Unsplash (Bermix Studio) 
Hey, nice to meet you!

Breave is a new way to follow the news and is currently completely free of charge and free of ads. We'll be introducing more features to the platform which will be only available to our members. Make sure you're one of the first ones!

Sign up for free Log in

The Gist

It reached a price of over 14 000$USD exactly 12 years to the day since Bitcoin was initially proposed by its anonymous developer. 

The List

  • Bitcoin was selling for a price of 14 100$USD on some cryptocurrency exchanges yesterday (October 31st).
  • The last time Bitcoin was trading at a price this high was in January 2018.
  • Bitoin's all time high is over 20 000$USD which occurred in mid December 2017.
  • Many large companies including Square and Microstrategy have been investing in Bitcoin over the last few months. 
  • Paypal also recently announced it would be supporting cryptocurrency payments at the start of 2021. 
  • Although Bitcoin is known to be volatile, its volatility has been decreasing over the years. 
  • In contrast to many other assets, Bitcoin has a finite supply of 21 million. 
  • Proponents have argued that this scarcity is what gives Bitcoin its value. 
  • Critics argue cryptocurrency is a bubble, and further question the intentions of Bitcoin's anonymous creator, Satoshi Nakamoto. 

Additional information

We'd love to help you learn more about what's happening

Media sources