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Bitcoin Exceeds $60,000 in Record All-Time-High

Cryptocurrency Enthusiast - Max      

The price to buy Bitcoin (BTC) has officially reached a whole new high of $60,000 on Saturday morning, extending its surge as large corporations and financial firms embrace cryptocurrencies.

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.

Is it a Wise Thing for Businesses to Place Money into Bitcoin?

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.

If you are looking to buy and sell Bitcoin, head over to BC Bitcoin, the UK’s best Bitcoin broker, and register an account to start trading crypto today.

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