Bitcoin Breaks $20,000 Barrier for 1st Time in History

Bitcoin rose by more than 6.84% during trading on Wednesday, surpassing the level of $20,000 for the first time in its history, with strong gains in the list of the Big Five cryptocurrencies.

The digital currency's rise comes as the demand from institutional investors increases for the world's largest digital currency. The cryptocurrency shined with expectations that more fiscal and monetary stimulus packages will fuel inflation, as Bitcoin is seen as a store of value.

Bitcoin has risen more than 180% since the beginning of the year, benefiting from the corona pandemic, and the growing institutional interest in it.

By the end of trading, Bitcoin had risen about 5.4% to $ 20,574 the highest level ever. Ethereum also rose by 4.9% to $613.7, and Ripple rose by 3.3% to $ 0.496, and litecoin jumped about 6.2% to $ 86.40, while Tether fell 0.2% to $0.99.