Bitcoin above 20,000 dollars for the first time in history

Bitcoin's value broke the 20,000 dollar level today, for the first time in history, due to increased demand among institutional investors for digital currency.

The world's most valuable virtual currency is traded for about $20,600, which is a price increase of 5.6 percent, according to Cin Metrics company market data, increasing its total value from the beginning of the year to more than 180 percent, reports CNBC.

Analysts say that the recent price hikes were encouraged by major investors like Paul Tudor Jones and Stanley Drakenmiller, who “placing” their funds in digital currency and technology companies like Square and Micro Strategics also focused on buying bitumen.

The latest record value of bitumen reminded many market observers of its huge growth from 2017 when it approached the price of nearly 20,000 dollars, followed by a steep decline next year at the rate of approximately $3,000.