Bitcoin on the rise in Czechia

The volume of trade in cryptocurrencies in Czechia has this year increased by a third to about four billion crowns - Bitcoin dominates.

There are several reasons why the Czechs' interest in Bitcoin has grown this year - its rising price, the coronavirus pandemic and resulting uncertainty on world markets.

Bitcoin recently exceeded the psychological threshold of $20,000 and is currently trading around $26,000 (about CZK 557,000). Since the beginning of the year, its value has more than tripled.

Economic instability due to the pandemic, inflation and low interest rates have been driving the Bitcoin price higher. Along with it, prices of gold and other precious metals have also been growing - as investors are looking for alternative assets.