All-time high bitcoin breaks 822,000 baht

Bitcoin hit a new all-time high, breaking 822,000 baht last weekend, buoyed by demand from institutional investors keen on its potential for quick profit. The volatile virtual currency has gained more than 230% this year amid stock market turmoil. Cryptocurrency exchange Binance reported bitcoin’s price has already hit strong resistance at US$25,000 and hit a new high of $25,945. Factors supporting the rally are purchases by institutional investors such as Grayscale, Square, MicroStrategy, MassMutual, SkyBridge and others, which are holding bitcoin as a reserve asset during the pandemic, said …

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