<p>Bitcoin, the world’s largest cryptocurrency, topped $30,000 for the first time, just weeks after passing another major milestone.</p>.<p>The currency gained almost 6% on Saturday to reach nearly $31,000, before slipping back to about $30,800 as of 1:15 p.m. in London. It advanced almost 50% in December when it breached $20,000 for the first time.</p>.<p>The latest gains top an eye-popping rally for the controversial digital asset in 2020, which rebounded sharply after a severe crash in March that saw it lose 25% amid the coronavirus pandemic.</p>.<p>Bitcoin has increasingly been “embraced in more global investment portfolios as holders expand beyond tech geeks and speculators,” Bloomberg Intelligence commodity strategist Mike McGlone wrote in a note last month. Proponents have seized on the narrative that the coin could act as a store of wealth amid supposed rampant central-bank money printing, even as inflation remains mostly muted.</p>.<p>Bitcoin should eventually climb to about $400,000, Scott Minerd, chief investment officer of Guggenheim Investments, told Bloomberg Television in a December 16 interview.</p>
<p>Bitcoin, the world’s largest cryptocurrency, topped $30,000 for the first time, just weeks after passing another major milestone.</p>.<p>The currency gained almost 6% on Saturday to reach nearly $31,000, before slipping back to about $30,800 as of 1:15 p.m. in London. It advanced almost 50% in December when it breached $20,000 for the first time.</p>.<p>The latest gains top an eye-popping rally for the controversial digital asset in 2020, which rebounded sharply after a severe crash in March that saw it lose 25% amid the coronavirus pandemic.</p>.<p>Bitcoin has increasingly been “embraced in more global investment portfolios as holders expand beyond tech geeks and speculators,” Bloomberg Intelligence commodity strategist Mike McGlone wrote in a note last month. Proponents have seized on the narrative that the coin could act as a store of wealth amid supposed rampant central-bank money printing, even as inflation remains mostly muted.</p>.<p>Bitcoin should eventually climb to about $400,000, Scott Minerd, chief investment officer of Guggenheim Investments, told Bloomberg Television in a December 16 interview.</p>