Bitcoin Leaps To New Record High of $23,000

Bitcoin climbed to a new all-time high of $23,770.85  on Thursday, just one day after it reached the $20,000 mark. Hitting the $20,000 mark saw BTC trading above its 2017 record.

The worlds leading cryptocurrency rallied in October after PayPal announced it would allow users to buy, sell, and hold cryptocurrencies.

Major banks have viewed the token as an alternative to popular hedge assets like gold. JPMorgan strategists said that the growing intrigue from institutional investors’ in bitcoin will pull cash out of gold in the long term.