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Bitcoin tops $24K, setting new all-time high

On Saturday afternoon, bitcoin cut through $24,000, setting a new record high as the leading cryptocurrency’s ongoing rally continues through the weekend before Christmas.

According to Coindesk, the price of the leading cryptocurrency 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 (BTC, +2.06%) first sliced through the $23,000 price point amid its more than 12% intraday gains.

With the newest 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 enhancing attention to bitcoin’s sustained rally.

Christopher Wood, global head of equity strategy at investment firm Jefferies, is allegedly 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.

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SourceCoinDesk

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