The price of bitcoin (BTC) topped $25,000 for the first time ever, a mere week after breaking $24,000 for the first time.
- The price of the leading cryptocurrency continued its recent torrid run, setting a new all-time high of $25,005.53 before falling back to $24,971.23, up 6.28% on the day. Year-to-date BTC is up more than 240%.
- Institutional investors are perceived to be driving this record-setting run. Among them: Anthony Scaramucciâ€™s Skybridge Capital ($25 millionÂ in December); MassMutual ($100 millionÂ in December);Â and Guggenheim (up to 10%Â of its $5 billion macro fund).
Read more: Over $20K? Why Is Bitcoin Worth Anything at All?