Bitcoin hits US$19,000 for first time in three years

LONDON: Bitcoin hit US$19,000 on Tuesday (Nov 24) for the first time in nearly three years and was just shy touching an all-time high of just under US$20,000.

The world's most popular cryptocurrency has gained around 160 per cent this year, fuelled by a demand for risk-on assets amid unprecedented fiscal and monetary stimulus, hunger for assets perceived as resistant to inflation, and expectations that cryptocurrencies would win mainstream acceptance.

Bitcoin has gained over 37 per cent in November alone.