Last time bitcoin gained $2,000 a day (on a closing basis)? December 2017... during peak bitcoin mania.
The world’s No.1 cryptocurrency rose to its highest level in about 17 months Wednesday, extending its rally to nearly 60% in June so far.
Some market participants point to increased investment volume in bitcoin, reflecting more appetite for the cryptographic asset, as institutional investors, including traditional companies, have launched crypto-related ventures. Facebook Inc.’s FB, -0.62% proposed Libra coin will use blockchain, the digital-ledger technology that underpins cryptocurrencies like bitcoin, to create a digital currency that the social-media giant and its dozens of backers, including Uber Technologies Inc. UBER, -1.37% Visa Inc. V, -0.13% Mastercard Inc. MA, +0.60% and PayPal Holdings Inc. PYPL, -0.25% hope will evolve into a global payment system.
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