Bitcoin hits $19,000 for first time in 3 years

Bitcoin hits $19,000 for first time in 3 years
The world’s most popular cryptocurrency has gained around 160 percent this year. (Reuters)
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Updated 24 November 2020

Bitcoin hits $19,000 for first time in 3 years

Bitcoin hits $19,000 for first time in 3 years
  • The world’s most popular cryptocurrency has gained around 160 percent this year

LONDON: Bitcoin hit $19,000 on Tuesday for the first time in nearly three years and was just shy touching an all-time high of just under $20,000.
The world’s most popular cryptocurrency has gained around 160 percent this year, fueled by a demand for risk-on assets amid unprecedented fiscal and monetary stimulus, hunger for assets perceived as resistant to inflation, and expectations that cryptocurrencies would win mainstream acceptance.
Bitcoin has gained over 37 percent in November alone.


PIF to help KSA become a global renewable energy leader, says minister

Minister of Investment Khalid Al-Falih. (Argaam)
Minister of Investment Khalid Al-Falih. (Argaam)
Updated 8 min 38 sec ago

PIF to help KSA become a global renewable energy leader, says minister

Minister of Investment Khalid Al-Falih. (Argaam)
  • The Public Investment Fund will act as a key investment driver, Al-Falih said

RIYADH: Saudi Arabia aims to be a world leader in the field of renewable energy, Al Arabiya TV Channel reported, citing Minister of Investment Khalid Al-Falih.

The Public Investment Fund (PIF) will act as a key investment driver, Al-Falih added.

The global economy has begun to shift to other energy sources, the minister said, noting that the Kingdom made a strong push towards this transformation through its renewable energy strategy, as Minister of Energy Prince Abdulaziz bin Salman announced ambitious goals to produce 50 percent of renewable energy in the Kingdom.

Al-Falih also noted that the strategies and policies announced by the Kingdom aim to maintain its leadership in energy sector, as it was during the oil era, amid transitioning to global leadership beyond oil amid the current global transformation.

According to data compiled by Argaam, the PIF’s board of directors, chaired by Crown Prince, Deputy Prime Minister and Chairman of the Council of Economic and Development Affairs, Mohammed Bin Salman, approved the fund’s strategy for the next five years to 2025.