CBJ – Bitcoin traded at more than $33,175 in early trading in Asia on Monday following what amounted to an overall astronomical cumulative jump in value to a record high of $34,800 on Sunday compared to where it was valued at last March.

The reason for the steady increase is largely based on optimism from investors that the digital currency is on track to becoming accepted as a global mainstream payment method.

The world’s most popular cryptocurrency came less than three weeks after it surpassed $20,000 for the first time in mid-December.

Investors have said limited supply of bitcoin has helped power upward moves over recent days. Bitcoin is viewed as somewhat of a safe haven – similar to gold – during these uncertain times of the pandemic.

@CanBizJournal