Bitcoin surpassed US$21,000 ($27,933.80) for the first time, another milestone in what’s been an eye-popping rally for the controversial digital asset this year.

The world’s largest cryptocurrency surged as much as 10% to US$21,293 in New York on Wednesday, vindicating forecasts that were scoffed at months ago and leading to even higher prognostications. Bitcoin has almost tripled this year, with the rally accelerating Wednesday after breaching US$20,000 earlier for the first time.

“We have a new line in the sand and the focus shifts to the next round number of US$30,000,” said Antoni Trenchev, co-founder and managing partner of Nexo, a crypto lender. This “is the start of a new chapter for Bitcoin. It’s a narrative the media and retail crowd can properly latch onto because they’ve been noticeably absent from this rally.”

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