Bitcoin hits USD 23,000, Outperformed By XRP (UPDATED)

Source: Adobe/malosdedos

After surpassing USD 20,000 for the first time since December 2017 yesterday, bitcoin (BTC) advanced by more than USD 3,000 in less than a day. While BTC dominance increased, the top coin is not the best performer in the top 10 club today. (Updated at 09:29 UTC: updates throughout the entire text.)

At pixel time (09:24 UTC), BTC trades at USD 23,449 and is up by 21% in a day and 27% in a week. The price rallied by 36% in a month and 243% in a year.

BTC price chart:

Source: coinpaprika.com

“While USD 20,000 is just a number, the real story is that it has only taken 12 years for bitcoin to become a generally accepted financial asset. It is clear that increasingly investors are embracing bitcoin as an efficient inflation hedge and either a substitute for or complement to gold. Whether mainstream retail adoption ever really takes place, there continues to be a strong argument for Bitcoin being seen as not only a legitimate store of value, but an inflation hedge during times of economic uncertainty,” according to Matteo Dante Perruccio, President International at Wave Financial Group.

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