Placeholder Image

Subtitles section Play video

  • It's had a blistering rally of late.

  • Bitcoin has gained almost 40% in November alone and is up around 160% this year.

  • On Tuesday, it homed in on its all time high after hitting $19,000 for the first time in nearly three years.

  • Fueling the surge has been demand for riskier assets amid unprecedented fiscal and monetary stimulus designed to counter the economic damage of the pandemic.

  • Hunger has increased for assets perceived as resistant to inflation, as well as expectations that crypto currencies will win mainstream acceptance.

  • Bitcoins 12-year history has been peppered with huge gains and equally sharp drops.

  • Its markets remain highly opaque compared with traditional assets such as stocks and bonds.

  • It's rally this year has prompted some investors to claim the crypto currency could more than quintuple in price to as high as $100,000 in a year.

  • That's drawn eye rolls from skeptics who say it is a purely speculative asset.

  • Crypto currency markets have matured since Bitcoin's retail fueled rally in 2017, attracting bigger investors.

  • One asset manager told Reuters that it implies that sophisticated investors and institutional investors are now purchasing Bitcoin.

It's had a blistering rally of late.

Subtitles and vocabulary

Click the word to look it up Click the word to find further inforamtion about it