Bitcoin’s price rallied to a fresh all-time high on Friday, smashing past $41,000 for the first time as investors increasingly view the cryptocurrency as an inflation hedge.
The world’s most valuable cryptocurrency traded as high as $41,973 at 10:10 a.m. ET, according to data from Coin Metrics. It’s since fallen back below the $41,000 mark, and was last trading up about 4% from a day earlier, at $40,590.
Bitcoin has extended its 2020 rally — which saw it skyrocket over 300% — into the new year. It is currently up roughly 40% so far in 2021, and on track to post its second-best week since the peak of the December 2017 surge.
Reference: CNBC, Coindesk
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