Winklevoss comes out of meditation to witness Bitcoin’s record high

Bitcoin BTC broke $20,000 to set new all-time highs on Wednesday around three years after its previous price record.

Almost on cue, the rally sent major cryptocurrency exchange Coinbase temporarily offline, turning profit-taking from the sudden 6% surge into a headache for traders.

Bitcoin pumps when Winklevoss meditates?

The new record highs sent Bitcoin to the top of Twitter’s trending topics as BTC fans rushed to hit publish on fire tweets they’ve been keeping for the occasion (who can blame them?).

Indeed, the last time Bitcoin was worth this much was in December 2017. But after trading as low as $3,200 a year later — more than 80% below its record highs — it’s back.

The rally comes after a flurry of interest from the coveted institutional class.

Jack Dorsey’s fintech Square allocated 1% of its assets ($50 million) to BTC earlier this year, followed by the NASDAQ-listed MicroStrategy, which has bought over half a billion dollars worth of the cryptocurrency since August, and plans to buy even more.