CHARLOTTE, N.C. (AP) — First it went through $20,000. Then 10 days later, it broke through $25,000, and then, with barely taking a breath, it crossed $30,000. Now only a few days into 2021, the price of bitcoin has crossed $40,000.

Nothing’s new with the digital currency in the month since it crossed $20,000 — there’s been no major change in how it can be used. Although some investors are now using the notoriously volatile currency as a “store of value,” which is traditionally a title saved for safe haven investments like gold and other precious metals.

“Will you be able to buy a cup of coffee with bitcoin? Probably not with the current version of Bitcoin. It’s largely become a store of value,” said Mike Venuto, a co-portfolio manager of the Amplify Transformational Data Sharing ETF, a $391 million exchanged-traded fund that focuses on blockchain technologies and companies that deal with cryptocurrencies.

Media attention to its rise has only added fuel to the rally.

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.