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Bitcoin Hits $25K for First Time Ever, Approaches $26K
The event happened just a week after the leading cryptocurrency broke $24,000.
The price of bitcoin (BTC) topped $25,000 for the first time ever, a mere week after breaking $24,000 for the first time.
STORY CONTINUES BELOW
- 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.
Kevin Reynolds
Kevin Reynolds is editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
