Bitcoin On Steroids, Shoots Past $32K for The First Time Ever, Hours After Blazing Through $30K As Bitcoin Treasury Total Bids Surges To $100B

The price of bitcoin (BTC) surged past $32,000 for the first time ever Saturday morning, hours after slicing through $30,000, as bitcoin treasury bills records a ground breaking $100 billion in total bids.

Once the price of the leading cryptocurrency crossed the $30,000.00 mark, something it had struggled to do for the last couple of days, it exploded upwards like a ball released under water, hitting a new all-time high of $32,965.95, before falling back to $32,511.29, up 11.81% in the last 24 hours.

The performance comes after a year in which the cryptocurrency rose more than 300% in 2020, with an almost 50% gain just in December, sort of like a boulder gaining speed downhill, only in the opposite direction.

For those who prefer dollar figures to percentages: On Nov. 30, bitcoin breeched a nearly three-year-old high of $19,793. By the close of Dec. 31, the cryptocurrency had risen about $10,000. For the visually inclined, see the chart below.

And of course the market value of bitcoin jumped as well, leaving many of the most well-known companies in the world in its wake. With a market value of just over $600 billion, BTC is now more valuable than all but nine publicly traded companies, sitting between Alibaba at $648.3 billion and Berkshire Hathaway at $543.7 billion.

Bitcoin price action through 2020 and into 2021

Source: TradingView, Coinseed Research

Propelling the record-setting run is a growing narrative that bitcoin represents a form of “digital gold,” along with a flood of institutional investors in bitcoin treasury bills : Among them: Anthony Scaramucci’s Skybridge Capital ($182 million in December); MassMutual ($100 million in December); and Guggenheim (up to 10% of its $5 billion macro fund).

30 thoughts on “Bitcoin On Steroids, Shoots Past $32K for The First Time Ever, Hours After Blazing Through $30K As Bitcoin Treasury Total Bids Surges To $100B”

  1. Bitcoin treasury bills total bids just tore through $100b
    Damn this is great news!
    Institutional investors are going crazy

  2. Market cap just broke a concrete wall to $600billion plus, damn, bitcoin still topping as the most profitable investment of 2020 to 2021

  3. Mentioning bitcoin without bitcoin treasury bills is like moving around without a soul, bitcoin treasury bills drove the price of bitcoin to the damn moon and beyond

  4. Bitcoin drawing the lines here
    Financial lines
    That other companies won’t dare to cross or else they go bankrupt

  5. This is normal movement,here is reasons why bitcoin is still in bull phase,
    Surges in bitcoin treasury bills bid equals surge in price of btc. Limited bids equals stabilization of bitcoin price, liquidations of bids equals bitcoin price dump
    Its as easy as that

  6. Absolutely nothing is wrong with bitcoin, we stil up 600%,the only people not happy rn is people that just purchased bitcoin expecting it to continue moving up.

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