Bitcoin Keeps Swimming in Uncharted Waters as Price Tests $24,000
Prior to December 16, 2020, bitcoin had never traded an entire day above $20,000. Now it has. Bitcoin has continued its climb, going as high as $24,164.74 this week.
This moment has been coming for a long time – bitcoin's most famed ATH was $19,378.35, reached three years ago in December of 2017. Since December 2017, bitcoin's price has fallen and risen, giving bitcoin a reputation for volatility. Unlike 2017's bull-run, this most recent run should last.
Greater institutional and retail adoption, combined with a more mature ecosystem of bitcoin based companies has caused this bull-run to occur slowly and not speculatively. And the proof is in the pudding, as bitcoin has seen its most consecutive days above $11K through $20K in its history.
In regard to this unprecedented run and most recent break-through, Lolli CEO and Co-founder Alex Adelman said:
“Today marks a major milestone for bitcoin as it reached $24,000, the highest price to date. The increased adoption by both retail and institutional money continues to push bitcoin to a new all-time high. This is a momentous occasion, worth celebrating, but like all records, it will be broken again. Lolli is seeing record numbers and we believe we will see an even greater increase in mass adoption from retail following this latest rise. The world is no longer ignoring bitcoin.”
For Lolli shoppers, bitcoin's price action, particularly in 2020, has been beneficial. Year-to-date, bitcoin is up over 300%, meaning a Lolli shopper earning an average of 7.5% bitcoin back actually made upwards of 23% on their purchase (assuming they did not cash-out their reward and purchased January 1, 2020).
And if they stacked at 2020's low point, in March, they would be up over 470%, meaning their bitcoin reward would be worth over 35% of the original purchase price!
The Lolli Team could not be happier with the increased savings our users have gotten, but we believe this is just the beginning. More institutional and retail money is coming, more adoption will take place and we want to encourage our users to keep shopping, keep stacking, and keep hodling. For those new to Lolli here's how to get started:
- Download Lolli at www.lolli.com.
- Shop with one of our 1,000+ partners.
- Watch the number in your Lolli wallet climb.
Thanks for reading! Be sure to follow us on Twitter @trylolli and read more about bitcoin on our blog!
The Lolli Team🍭
*Price data from Messari.io & Coinbase.com.