TOKYO (Reuters) – Bitcoin traded at $ 33,176 in Asia on Monday, after hitting a record high of $ 34,800 on Sunday as investors continue to bet that digital currency is on its way to becoming a mainstream payment medium.
The latest milestone for the world’s most popular cryptocurrency came less than three weeks after crossing $ 20,000 for the first time on December 16, and bitcoin has now jumped 800% since mid-March.
Investors said the limited supply of bitcoin has helped accelerate upward moves in recent days, with some also seeing it as a safe haven during the gold-like COVID-19 pandemic.
Bitcoin’s potential for quick wins has also attracted demand from large U.S. investors, as well as traders who normally stick with stocks.
Digital currency is traded on numerous exchanges, the most important of which is Coinbase, preparing itself to go public to become the first major U.S. cryptocurrency exchange to be listed on Wall Street.
Reporting by Kevin Buckland; Editing by Jacqueline Wong and Kenneth Maxwell