Bitcoin trades near Sunday record of $34,800 following 800% surge

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By Kevin Buckland
TOKYO (Reuters) – Bitcoin traded at $33,365 in Asia on Monday, after soaring to a record high of $34,800 on Sunday as investors continue to bet the digital currency is on its way to becoming a mainstream asset.
The latest milestone for the world’s most popular cryptocurrency came less than three weeks after it crossed $20,000 for the first time, on Dec. 16, and bitcoin has now surged some 800% since mid-March.
With bitcoin’s supply capped at 21 million, some see it as a hedge against the risk of inflation as governments and central banks turn on the stimulus taps in response to the COVID-19 pandemic. Some also view it as a safe-haven play during the COVID-19 pandemic, akin to gold.
“Some of it is reflecting the …

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