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

30 Second Cryptocurrency Price Summary

Current Bitcoin Price: $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

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 Bit.com and OKEx also posting significant volumes.

UK Investment Firm Ruffer Confirms $744M Bitcoin Holdings

Ruffer, a UK-based investment firm, has confirmed that it currently holds Bitcoin worth £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.

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.

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Source: Bitcoin Breaks K, BTC Options Volume Reaches B – December 17