 "Bitcoin")
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.
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.
Bitcoin rose as much as 11% on Thursday to $40,065 and has more than quadrupled in the past year, according to a composite of prices compiled by Bloomberg.
