Bitcoin jumped to an 18-month high on Wednesday, as investors looked for safety in alternative investments amid geopolitical tension, and cheered prospects that Facebook Inc’s Libra token could push cryptocurrencies into the mainstream.
The world’s biggest cryptocurrency has surged in value since April and on Wednesday hit a peak of $13,666.02 on the Bitstamp exchange, the highest level since January 2018. So far this year, bitcoin has risen more than 260%, although it remains below its all-time high of nearly $20,000 hit in December 2017.
Bitcoin last traded up 14.7% at $13,475.
Investors have flocked back in to digital currencies after a bruising 2018. Bitcoin has risen for eight consecutive days. And now Facebook has said it would offer its own cryptocurrency, the Libra coin, by end of June 2020.
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