Bitcoin touches record high of $28,599

On Wednesday, the price of bitcoin touched a record high of $28,599.99, taking this year’s gains past 295% amid heightened interest from bigger investors.

Bitcoin, the world’s most popular cryptocurrency, was last up by 3.7% at $28,375; ever since it broke the $20,000 threshold on December 16, 2020, it’s price has surged.

The cryptocurrency has seen heightened demand from larger U.S. investors, attracted by its perceived inflation-hedging qualities and the potential for quick gains; it’s rise is also on the hopes that it would join the mainstream currency stream.

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