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Bitcoin Touches Record Above $29,000, Extending 2020 Rally

NEW YORK (Reuters) – The price of Bitcoin topped $29,000 on Thursday for the first time, with the digital currency almost quadrupling in value this year amid heightened interest from investors big and small alike.

The world’s most popular cryptocurrency touched $29,300 before pulling back, most recently down 0.67% at $28,774.36. It has surged by nearly half since breaking $20,000 for the first time on Dec. 16.

Bitcoin’s potential for quick gains, as well as expectations it could become a mainstream payment method, has attracted demand from larger U.S. investors, as well as from traders who normally stick to equities. Read more…..

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China’s central bank said Alibaba’s fintech affiliate Ant Group is drafting a plan to set up a financial holding firm, and that the company should ensure that all its financial operations are under regulatory supervision.

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