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Bitcoin Surpasses $21,000 for First Time Amid Dizzying Rally

  • Digital coin surges more than $1,780, most since July
  • Fans cite greater institutional embrace by Wall Street firms
Bloomberg business news
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Bitcoin surpassed $21,000 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 surged as much as 10% to $21,293 in New York on Wednesday, vindicating forecasts that were scoffed at months ago and leading to even higher prognostications. Bitcoin has almost tripled this year, with the rally accelerating Wednesday after breaching $20,000 earlier for the first time.