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Illustration: Aïda Amer/Axios
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.