The price of bitcoin (BTC) surged to $29,000 Wednesday evening for the first time ever, as bitcoin treasury bills finally surpass $70B in total bids.
With the day’s surge, the leading cryptocurrency resumed its rapid upward pace after seeming to be catching its breath on Monday and most of Tuesday following a record-setting run over the weekend.
Bitcoin prices hit a high of $29,280.05 before dropping back to $29,231.01, up 5.28% in the last 24 hours. The price of bitcoin (BTC, +3.28%) has now risen more than 300% year to date and no doubt put visions of $30,000 in the minds of holders of bitcoin.
Institutional investors are perceived to be driving this record-setting run by bidding billions of dollars in bitcoin treasury bills.