Bitcoin climbs towards all-time high after topping the $19,000 mark

Bitcoin moved to within a whisker of its all-time high on Tuesday, after hitting $19,000 for the first time in nearly three years.

The world’s most popular cryptocurrency was last up 4.8% at $19,225, just shy of its all-time record of $19,666 hit in December 2017. Bitcoin has gained around 25% in the last two weeks alone, and is up around 160% this year.

Fuelling its rally have been demand for riskier assets amid unprecedented stimulus programmes to counter the COVID-19 hit; hunger for assets perceived as resistant to inflation; and expectations cryptocurrencies will win wider acceptance as a method of payments.