Bitcoin Hits $25K for First Time Ever, Approaches $26K

The price of BTC$90,867.01 topped $25,000 for the first time ever, a mere week after breaking $24,000 for the first time.

• The price of the leading cryptocurrency continued its recent torrid pace, breaking $25,000 Friday night for the first time, and setting a new all-time high of $25,914.46 Saturday morning, before falling back to $25,669.62, up 6.18% on the day. Year to date, BTC is up more than 250%.
• Institutional investors are perceived to be driving this record-setting run. Among them: Anthony Scaramucci’s Skybridge Capital ($25 million in December); MassMutual ($100 million in December); and Guggenheim (up to 10% of its $5 billion macro fund).

UPDATE (Dec. 26, 16:29 UTC): Adds new all-time high.

Read more: Over $20K? Why Is Bitcoin Worth Anything at All?