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The value of bitcoin jumped to $20,000 on Wednesday morning, CNBC reports, citing Coin Metrics market data.

The big picture: The cryptocurrency almost traded above $20k in 2017, but advocates tell CNBC that institutional support from S&P Dow Jones Indices and Cboe Global Markets have put the virtual currency on an upward track. 

Flashback: The value of a single bitcoin cracked $15,000 last month after the Justice Department seized about $1 billion worth of the cryptocurrency from the dormant site Silk Road on the dark web.

Bitcoin price reaches $20K for the first time

Advocates tell CNBC that institutional support has buoyed the virtual currency this year.

Animated illustration of a hand holding a rotating glowing golden pixel coin. 

Business

Bitcoin

Technology

The value of bitcoin jumped to $20,000 on Wednesday morning, <a class="gtmContentClick" data-vars-link-text="CNBC reports" data-vars-click-url="https://www.cnbc.com/2020/12/16/bitcoin-breaks-above-20000-for-the-first-time-ever.html" data-vars-content-id="0036c079-ce4b-4316-baff-4493a093b608" data-vars-headline="Bitcoin price reaches $20K for the first time" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.cnbc.com/2020/12/16/bitcoin-breaks-above-20000-for-the-first-time-ever.html" target="_blank">CNBC reports</a>, citing Coin Metrics market data.The big picture: The cryptocurrency almost traded above $20k in 2017, but advocates tell CNBC that institutional support from <a class="gtmContentClick" data-vars-link-text="S&amp;P Dow Jones Indices" data-vars-click-url="https://www.reuters.com/article/us-cryptocurrencies-s-p/sp-dow-jones-indices-to-launch-cryptocurrency-indexes-in-2021-idUSKBN28D1YB" data-vars-content-id="0036c079-ce4b-4316-baff-4493a093b608" data-vars-headline="Bitcoin price reaches $20K for the first time" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.reuters.com/article/us-cryptocurrencies-s-p/sp-dow-jones-indices-to-launch-cryptocurrency-indexes-in-2021-idUSKBN28D1YB" target="_blank">S&amp;P Dow Jones Indices</a> and Cboe Global Markets have put the virtual currency on an upward track.

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After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

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From the Valley to D.C., Big Tech players like Facebook, Google and Amazon are under more scrutiny than ever as new technology develops and privacy and antitrust concerns grow in lockstep with companies’ ambitions.

Bitcoin price reaches $20K for the first time

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