Business & Economy

JUST IN: Bitcoin passes $40,000 for first time, doubles in value in less than a month

By Uchechi Ojo January 7, 2021385 views

Bitcoin surged to $40,000 for the first time, doubling in value in less than a month and pushing the total market value of cryptocurrencies beyond $1 trillion.

Cryptocurrencies hit the milestone after a fivefold climb in market value in the past year, data from tracker CoinGecko shows. Strategists have cited demand from speculative retail traders, trend-following quant funds, the rich and even institutional investors as among the reasons for the surge.

JUST IN: Bitcoin passes $40,000 for first time, doubles in value in less than a month

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Uchechi Ojo

Uchechi Ojo, is a Lagos-born and based writer, newscaster and voice-over artist. A versatile and committed journalist with the yearning to make a difference in the industry. She writes balanced, informative and interesting stories. Uchechi has the ability to interact and listen with rapt attention, excellent time management and great communication skills while paying attention to detail. She is very approachable and a good team player. Instagram | LinkedIn