Bitcoin Exceeds $60,000 in Record All-Time-High
Cryptocurrency Enthusiast - Max
Bitcoin, the largest cryptocurrency in the world, was $60,415.34 at 7:25 a.m. ET, according to Coinbase, recovering from a fall at the end of February that preceded the previous record high that month.
The price of Bitcoin has increased by approximately 957% over the last 12 months. Last week, for the second time this year, it’s worth exceeded $1 trillion. Bitcoin's surge is motivated in part by expanded acceptance by broader institutional investors and companies, along with investor demand.
Tesla recently instigated a Bitcoin investment and bought $1.5 billion worth of the asset. The company expects to embrace the digital currency as payment for its goods, a move that prompted further widespread interest.
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Mastercard has said that it will open its platform to certain digital currencies. PayPal and BNY Mellon have made a few steps into industry.
Bitcoin proponents contend that the new surge is fuelled by demand from institutional investors and is separate from previous runs, including when Bitcoin jumped to about $20,000 at the end of 2017 before losing around 80% of its value next year. Others contend that Bitcoin and other cryptocurrencies have little underlying worth and fear that Bitcoin investing may be one of the greatest stimulus-fuelled market bubbles on history.