Bitcoin, the world’s largest cryptocurrency hit another record high to $28,759 on Wednesday.
In December, Bitcoin rose by more than 40%, putting it on the right track for its biggest monthly gain since 2019.
The recent price rally continues to split opinion between those who view cryptocurrencies as a hedge against dollar and inflation, and others who question Bitcoin's viability as an asset given its speculative risky nature.
"The increased institutional presence has been part of the current rally, we may see an increase in retail interest in Bitcoin as a form of digital gold," Paolo Arduino, chief technology officer at cryptocurrency exchange Bitfinex said.
A recent report published by Luno cryptocurrency exchange states that Bitcoin (BTC) "has broken the stock markets this year".
"The biggest winner for 2020 is Bitcoin, which saw a whopping 269% increase. This compares to only 45% for the Nasdaq," Luno report pointed.
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