Bitcoin Tops $24K, Setting New All-Time High

Bitcoin cut through $24,000 Saturday afternoon, setting a new record high as the leading cryptocurrency's ongoing rally continues through the weekend before Christmas.

• The price of bitcoin continued its recent torrid run, setting a new all-time high of $24,122.67 before falling back to $23,978.86, up 5.49% on the day.
• The record price comes two days after bitcoin first sliced through the $23,000 price point amid its more than 12% intraday gains.
• With the latest price increase, bitcoin's year-to-date percentage gains have grown to over 225%.
• Social media is lighting up with bitcoin-related chatter as mainstream audiences pay increasing attention to bitcoin's sustained rally. Tweets about bitcoin neared three-year highs Thursday, per CoinDesk's prior reporting, as record prices attract increasing attention.
• Coinciding with the weekend price jump, Christopher Wood, global head of equity strategy at investment firm Jefferies, is reportedly planning to cut his exposure to gold for the first time in years in favor of a first-time-ever position in bitcoin. Wood is set to cut his gold position from 50% to 45% and initiate a 5% bitcoin holding.

See also: Over $20K? Why Is Bitcoin Worth Anything at All?