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Bitcoin hits US$19,000 for first time in three years, all-time high in sight


Bitcoin hit US$19,000 on Tuesday for the first time in nearly three years, homing in on its all-time high of just under US$20,000.

FILE PHOTO: An illustration photo shows a Bitcoin (virtual currency) paper wallet with QR codes and

FILE PHOTO: A Bitcoin (virtual currency) paper wallet with QR codes and a coin are seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, May 27, 2015. REUTERS/Benoit Tessier/File Photo

LONDON: Bitcoin hit US$19,000 on Tuesday for the first time in nearly three years, homing in on its all-time high of just under US$20,000.

The world’s most popular cryptocurrency was last up 3.2per cent at US$18,958. Bitcoin has gained nearly 40per cent in November alone and is up around 160per cent this year.

Fuelling its gains have been demand for risk-on assets amid unprecedented fiscal and monetary stimulus, hunger for assets perceived as resistant to inflation, and expectations that cryptocurrencies would win mainstream acceptance.

Graphic: Bitcoin breaks US$19,000 https://fingfx.thomsonreuters.com/gfx/mkt/xlbpgzyrkvq/bitcoin.JPG

(Reporting by Saikat Chatterjee; Additional reporting by Tom Wilson; editing by Thyagaraju Adinarayan)


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