Updated : December 21, 2020 01:07 PM IST
Bitcoin rose to its all-time high crossing the $24,000-mark on Monday led by surging interest in the cryptocurrency from both institutional and retail investors.
“There will be a search for alternative currencies due to constant fiat money debasement,” Deutsche Bank analysts wrote in a note.
The cryptocurrency jumped 3.1 percent to touch an all-time peak of $24,273.
Read more:Bitcoin tests fresh record high, surpasses $24,000-mark as investors’ demand rise