Bitcoin leaps past $US30,000 as traders eye legitimacy


Digital currency Bitcoin extended its record-smashing rally over the weekend, beginning the year with a surge over $US30,000 for the first time, with more traders and investors betting it is on its way to becoming a mainstream payment method.The price of the world’s most popular cryptocurrency traded as high as $US33,099, with almost all other markets closed over the first weekend in 2021. It was last trading up 10.5 per cent at $US32,439.Bitcoin advanced more than 300 per cent in 2020 and has added more than 50 per cent since crossing $US20,000 just two weeks ago.The blockchain currency has only been around for a decade or so, and in 2020 it has seen demand grow from larger US investors, attracted by its perceived inflation-hedging qualities and potential for quick gains, as well as expectations it would become a mainstream payments method.Investors said limited supply of bitcoin – produced by so-called…

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