Bitcoin vaults above $50,000 for first time ever
3 years, 10 months ago

Bitcoin vaults above $50,000 for first time ever

The Hindu  

Bitcoin rose above $50,000 on Tuesday to a new record high, building on a rally fuelled by signs that the world's biggest cryptocurrency is gaining acceptance amongst mainstream investors. But Tesla was only the latest in a string of large investments that have vaulted bitcoin from the fringes of finance to company balance sheets and Wall Street dealing desks, as U.S. firms and traditional money managers have started to buy a lot of it. “The recent market conditions and events both in the crypto space and the financial world at large put such a price movement within the realm of possibility,” said Jacob Skaaning of crypto hedge fund ARK36. Bitcoin is still extremely volatile.” Smaller cryptocurrency ethereum edged 1.1%higher, just shy of its record high price of $1,874.98.

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