Bitcoin surpasses $20,000 for first time amid dizzying rally

Bitcoin surpassed $20,000 for the first time, another milestone in what’s been an eye-popping rally for the controversial digital asset this year.

The world’s largest cryptocurrency rose as much as 3.8% to $20,154 on Wednesday, vindicating forecasts that were scoffed at months ago and leading to even higher prognostications. Bitcoin has almost tripled this year.

“We have a new line in the sand and the focus shifts to the next round number of $30,000,” said Antoni Trenchev, co-founder and managing partner of Nexo, a crypto lender. This “is the start of a new chapter for Bitcoin. It’s a narrative the media and retail crowd can properly latch onto because they’ve been noticeably absent from this rally.”