Bitcoin Sets Eyes on $30,000 After Logging Another Record High

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Bitcoin careened to another record high on Wednesday amid concerns about this year’s huge stimulus packages. The flagship cryptocurrency continued to attract capital from investors that view it as a hedge against fiat devaluation and inflation. On Tuesday, SkyBridge Capital investment revealed that it had invested about $182 million in Bitcoin ahead of its proprietary SkyBridge Bitcoin Fund LP in January. “Bitcoin is digital gold,” its brochure read. “It is better at being gold than gold.” More Institutional Capital The news followed a renewed upside build-up in the Bitcoin spot market. The cryptocurrency started inching upward in the early Asian session, breaking above its psychological resistance-cum-support of $27,000. But its buying momentum picked up speed during the European trade hours that eventually pushed its price towards $28,580, a new all-time high. Bitcoin faces a sell-off after hitting a new record high. Source: BTCUSD on TradingView.com Meanwhile, traders jumped ships after…

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