Business

Bitcoin hits a record high of nearly $50,000 as major firms flock to crypto

Tesla, led by Elon Musk, confirmed that it purchased about $ 1.5 billion in bitcoin in January and expects to start accepting it as a payment in the future.

Artur Widak | NurPhoto | Getty Images

Bitcoin’s price reached a new record high of almost $50,000, as major Fortune 500 companies showed support for digital currencies.

The world’s largest cryptocurrency by market value surged to an all-time high of $49,951 late Monday, just inches away from the $50,000 level, according to data from industry website CoinDesk.

The digital asset pared back some of its gains early Tuesday, rising 3.3% in the last 24 hours to a price of around $49,167.

The digital coin has gotten a boost from news of large firms like Tesla, Mastercard and BNY Mellon warming to cryptocurrencies.

File source

Tags
Show More

Related Articles

Back to top button
Close