Business
Tech stocks bounce as ASX hits three-week high; Bitcoin tops $US40k – The Sydney Morning Herald
The ASX followed Wall Street higher at Friday’s open with tech stocks and the major banks on the rise. The local index hit a near three-week high.
It has surged crossed $US30,000 for the first time on January 2 and $US20,000 on December 16. JP Morgan this week suggested it could rise as high as $US146,000.
An influx of institutional investors in 2020 increased the cryptocurrency’s mainstream legitimacy as belief continues to build that it is no mere speculative bubble, as some analysts and investors fear.
Many investors view bitcoin as a hedge against inflation amid enormous monetary stimulus aimed at battling the economic devastation caused…
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