Bitcoin Rises to Three-year Peak, Closing on All-time High

Bitcoin (BTC) rose to a three-year high of ,600 on Friday, up 4.5% on the day and close to its all-time high of just under ,000.

Bitcoin has gained over 16% so far this week – its biggest weekly gain since June 2019 – and is up over 160% this year.

According to Deutsche Bank currently investors increasingly choose Bitcoin over gold to hedge dollar risk and inflation.

Recently, JPMorgan’s analysts also pointed out that institutional investors are moving from gold exchange-traded funds (ETFs) to bitcoin via Grayscale Bitcoin Trust (GBTC)./Reuters

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