Bitcoin breaks $30,000 for the first time in history

Bitcoin broke $30,000 all-time-high (ATH) on Saturday morning and is currently trading at $31,388 — as banks, Wall Street and Government are closed for the holiday weekend.

Bitcoin breaks $30,000 for the first time in history

Bitcoin broke $30,000 all-time-high (ATH) on Saturday morning and is currently trading at $31,388 — as banks, Wall Street and Government are closed for the holiday weekend. Every day, it seems we're scrambling for graphics to promote the new ATH for Bitcoin, which jumped to $31,000 within hours of breaking $30,000 on Saturday. Bitcoin is now up 5.88% in the last 24 hours, 24.82% in the past week, and 63.69% in the last month. Bitcoin has an available circulating supply of 18,588,450 out of 21,000,000 that will ever exist, meaning 93% of all bitcoin have already been mined. This week, Grayscale announced that their assets under management (AUM) are now worth $19 billion, according to founder and CEO Barry Silbert, up 150% since November. Bitcoin now has a market cap of $578 billion, blowing past Warren Buffett's entire Berkshire Hathaway empire at $543 billion. The close of 2020 seemed to create the perfect storm for Bitcoin — Trump signed a $900 billion COVID-19 relief package on Sunday, while urging Congress to increase stimulus checks for Americans from $600 to $2,000 per person. President-elect Joe Biden said in a recent interview that the most recent $900 billion stimulus package would be an "appetizer" to the additional aid coming in 2021. Many economists fear a double-dip recession is inevitable in 2021 given the S&P 500 and Dow Jones haven't had a down year since the 2008-2009 financial crisis. The total economic impact of coronavirus keeps getting worse, especially in the United States, as covid cases topped 20 million, or 6% of the U.S. population.