Bitcoin Breaks $23K, BTC Options Volume Reaches $1B – December 17

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $22,583

Bitcoin price has soared to new all-time highs over the last day of trading, breaching the $23,000 level before retreating to the $22,000s.

Top-20 altcoins have also exploded in price, as Ethereum gains 12%, XRP gains 25%, and Litecoin rises 23%.

Top Stories for December 17, 2020 πŸ”₯

πŸ‘‰ Bitcoin Breaks $23K, BTC Options Volume Reaches $1B

Bitcoin has posted new all-time highs well above the $23,000 mark today, as 24-hour Bitcoin options trading volume breaks $1 billion.

According to Skew, options trading volume was led by crypto exchange Deribit, with and OKEx also posting significant volumes.

πŸ‘‰ UK Investment Firm Ruffer Confirms $744M Bitcoin Holdings

Ruffer, a UK-based investment firm, has confirmed that it currently holds Bitcoin worth Β£550 million, or $744.26 million worth of Bitcoin at the time of Coindesk’s article.

The investment was described as a “protective” move to hedge against risks in a “fragile” monetary system.

πŸ‘‰ Confusion and Concern Arises Over IRS Tax Form Question

US crypto users are confused and worried about a mandatory question that has arisen in this year’s 1040 return form, which asks users about their dealings with “virtual currency” in 2020.

One cryptocurrency tax specialist has called the question a “perjury trap”, while others have noted that adequate guidance around virtual currencies has not been adequate enough to answer the question confidently.