Bitcoin blew through another milestone, surging past $50,000 for the first time as the blistering rally in the largest cryptocurrency continues to captivate investors worldwide.
The world’s largest cryptocurrency reached about $50,191 as of 7:32 a.m. in New York and is now up about 73% so far this year. Ether, a rival crypto, hit a record on Friday and is up about 140% year-to-date.
After ending last year with a fourth-quarter surge of 170% to around $29,000, Bitcoin token jumped to $40,000 seven days later.
It took just nearly six weeks to breach the latest threshold, buoyed by endorsements from the likes of Paul Tudor Jones, Stan Drucken miller and Elon Musk. Bitcoin traded for a few cents for several years after its debut more than a decade ago.
Source: Ajezeera News