LONDON/NEW YORK (Reuters) – Bitcoin jumped to an all-time high on Monday after a sharp tumble last week checked its 2020 rally.

The virtual currency touched a lifetime peak of $19,808 and was last up 8.6% at $19,721.

Bitcoin has gained more than 170% this year, fuelled by a demand for risk-on assets amid unprecedented fiscal and monetary stimulus, hunger for assets perceived as resistant to inflation, and expectations that cryptocurrencies would win mainstream acceptance.

Reporting by Tom Wilson in London and Gertrude Chavez-Dreyfuss in New York; Editing by Thyagaraju Adinarayan

Via Reuters Finance

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