Demand from investors sees Bitcoin hitting record $28,600 as 2020 rally powers on

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Bitcoin on Wednesday hit a record $28,599.99, taking gains this year past 295 percent amid heightened interest from bigger investors.

The world’s most popular cryptocurrency was last up 3.7 percent at $28,375. Since breaking $20,000 for the first time on December 16 it has surged by nearly half.

Read more: With Bitcoin at its highest levels in three years, is now the time to invest?

Bitcoin has increasingly seen demand from larger US investors, in particular, attracted by its perceived inflation-hedging qualities and the potential for quick gains, as well as expectations it would become a mainstream payments method.

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