One of the craziest years on record for the stock market will come to an end in just five days. However, not all investors are thrilled to be putting 2020 in the rearview mirror.
Cryptocurrency investors reemerged from shadows in March, and bitcoin has been virtually unstoppable ever since. As of the very early morning of Dec. 23, the world’s largest cryptocurrency was up nearly 233% on a year-to-date basis.
While there’s no one specific factor driving bitcoin higher, it’s looks to be some combination of a falling U.S. dollar, greater acceptance by merchants, and the ongoing move away from cash during the coronavirus pandemic.