Investors ramp up crypto spree as bitcoin nears record
Australian investors have pounced on the plunge in bitcoin earlier this year and have been ramping up exposure to the cryptocurrency in a bold bet that could pay off handsomely with analysts tipping prices to hit $US200,000 this year.
The world's largest digital asset crossed the key $US100,000 level last week for the first time since February. Bitcoin extended that rally on Monday to trade at $US104,110, just shy of its record of around $US109,000 on January 20 – the day US President Donald Trump was inaugurated.
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