Cryptocurrencies, the asset class written off by most investors after enormous price falls last year, are back.
Bitcoin, the world’s largest digital asset by market capitalisation, jumped as much as 10 per cent to $8,942.58 on Monday, its highest level in a year, according to Bloomberg data. That takes its gains this year to about 140 per cent, including a near-70 per cent rise this month.
Among other digital assets, Litecoin’s rise of about 13 per cent on Monday has taken gains this year to more than 290 per cent. Ethereum, the second-largest cryptocurrency, was up almost 8 per cent on Monday and is up nearly 110 per cent this year.
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