Bitcoin Smashes Biggest Record by Far, Trading at $21,000

© REUTERS / DADO RUVICRepresentations of Bitcoin and U.S. dollar banknotes are seen in this illustration taken January 6, 2020.
Representations of Bitcoin and U.S. dollar banknotes are seen in this illustration taken January 6, 2020. - Sputnik International
Earlier in the day the world's leading cryptocurrency beat its previous $20,000 trading record, reaching a record high of $20,436 this afternoon.

Trading data shows that Bitcoin, the globe's most prevalent cryptocurrency, hit a record high on Wednesday, currently trading above $21,000.

As of 21:57 GMT, Bitcoin was trading up 9.44% at the current price of almost $21,272., according to the Coindesk data.

According to trading data, the previous record was hit in December 2017.

A representation of virtual currency Bitcoin is seen in front of a share graph in this illustration taken 19 November 2020. - Sputnik International
As Bitcoin Hits New High, Here's a Brief History of the Cryptocurrency's Record Ups and Downs
Bitcoin is reported to constitute approximately 66% of the entire global cryptocurrency market.

Bitcoin was the first cryptocurrency to be based on a decentralized blockchain-based network. Launched in early 2009, the cryptocurrency is considered the world's biggest, by market capitalization and the amount of data stored on its blockchain.

The software used to produce the cryptocurrency is free and available online to anyone willing to store their own copy of the Bitcoin blockchain on their own hardware. According to some estimations, only some 21 million bitcoins could ever be produced. New coins are produced about every 10 minutes by bitcoin miners who maintain the network by adding new data to the blockchain.

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