The price of bitcoin jumped well over the $25k handle touching a high of $25,890 on Saturday morning (EST). The crypto asset has an overall market valuation of $476 billion this weekend gaining over 6.8% during the last 24 hours.
The overall cryptocurrency market capitalization of all the crypto assets in existence today is roughly $665 billion and up over 3.8% over the course of the day. Bitcoin (BTC) has surpassed the $25k mark and is currently trading for $25,700 per unit. At the time of publication, there is $11.6 billion in reported trade volume for BTC trading pairs. BTC is up over 6% for the week, 48% for the last month, and 136% over the course of the last 90 days. The crypto asset against the U.S. dollar over the last year has seen a 250% increase.
There are 18 mining pools pointing SHA256 hashrate at the Bitcoin (BTC) network and F2pool is leading the pack on Saturday. Out of the current 133 exahash per second (EH/s) BTC hashrate, F2pool captures 24.3 EH/s or 18.2% of the overall hashrate. Bitcoinâ€™s issuance rate or inflation per annum is currently 1.78% on December 26, 2020. While BTC has touched new price highs, the gold bug Peter Schiff said that regulators will go after bitcoin soon.
â€œBitcoin is hitting new record highs, as its dominance of total crypto market cap rises to 69.3%,â€ Schiff tweeted as BTC jumped above the $25k handle. â€œIt hasnâ€™t been above 70% since Mar. of 2017. As regulators target altcoins, speculators are taking cover in Bitcoin. Not for long as Bitcoin will eventually be in the crosshairs too.â€ When an individual asked who the SEC would sue and jokingly said â€œSatoshi,â€ Schiff responded: â€œNo, just companies that allow trading in bitcoin, or banks that facilitate bitcoin-related wires.â€
Meanwhile, a great number of crypto proponents on social media and forums celebrated the $25k price. â€œBitcoin just touched $25,500. I said a month ago it was gonna hit $25k by the end of 2020,â€ one individual wrote on Twitter. The founder of Bitgive, Connie Gallippi, tweeted: â€œHoly Moly $25k, Moon Dayâ€” everyday bitcoin.â€
â€œHey Elon Musk are you buying bitcoin?â€ another individual asked the Tesla founder on Twitter.
Michael Saylor, the CEO of Microstrategy, the company that purchased thousands of bitcoins to hold as reserves said â€œcash is a refuge from risk, but there is a price to pay.â€ â€œWould you sacrifice 98% of your opportunity to avoid the uncertainty of tomorrow?â€ Saylor tweeted after bitcoin surpassed $25,000. â€œVolatility is Vitality. Bitcoin is Hope,â€ he added. The stock-to-flow (S2F) creator Plan B wrote: â€œStart of this bitcoin bull run feels more like 2013 than 2017.â€
What do you think about bitcoin surpassing the $25k mark on Saturday? Let us know what you think about this subject in the comments section below.
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