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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.
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.
STORY CONTINUES BELOW
- 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.
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.
Zack Voell
Zack Voell is a financial writer with extensive experience in cryptocurrency research and technical writing. He has previously worked with leading cryptocurrency data and technology firms, including Messari and Blockstream. His work (and tweets) has appeared in The New York Times, Financial Times, The Independent and more. He owns bitcoin.
