Bitcoin value is above $ 20,000 for the primary time

A visual representation of Bitcoin.

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Bitcoin surpassed $ 20,000 for the first time in history on Wednesday when crypto enthusiasts pointed to increased institutional investor demand for the red-hot digital currency.

According to market data from Coin Metrics, the world’s most valuable virtual currency rose 4% to a price of around $ 20,327 and has grown its profits to over 180% year-to-date.

Bitcoin got a crack this year. Analysts say big-name investors like Paul Tudor Jones and Stanley Druckermiller have shifted their own assets into cryptocurrency, while tech firms like Square and MicroStrategy have also tried to leverage Bitcoin.

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