Bitcoin hit a record $50,603 and was last up 0.83 per cent at $48,351.
Bitcoin rose above $50,000 on Tuesday for the first time, adding steam to a rally fuelled by signs that the world s biggest cryptocurrency is gaining acceptance among mainstream investors and companies.
Bitcoin hit a record $50,603 and was last up 0.83 per cent at $48,351. It has risen around 67 per cent so far this year, with most of the gains coming after electric carmaker Tesla said it had bought $1.5 billion in bitcoin.
The move by Tesla, which also said it would accept bitcoin as payment, was the latest in a string of large investments that have vaulted bitcoin from the fringes of finance to company balance sheets and Wall Street, with US firms and traditional money managers starting to buy the coin.
Manulife Sees Markets, Economy Diverging Through 2nd Virus Wave
Shelly Hagan, Bloomberg News Non-essential goods are cordoned off at a Montreal big-box store to comply with Quebec public-health restrictions on Dec. 29, 2020. , Bloomberg
(Bloomberg) Canadaâs economy and financial markets are moving in opposite directions as investors drive up asset prices in response to cheap-money policies. That trend will continue in the months ahead, according to Manulifeâs Frances Donald.
The country is grappling with a fresh set of lockdowns as governments try to quell a wave of Covid-19 infections. Quebec, the second-largest provincial economy, is likely to unveil new restrictions Wednesday that will shut down the construction sector. Less than 1% of the population has been vaccinated so far, putting Canada behind the U.S. and U.K.
Dec 27, 2020 at 2:43 p.m. UTCUpdated Dec 27, 2020 at 3:27 p.m. UTC
After tearing through $27,000 for the first time ever only a few hours before, the price of bitcoin briefly surged past $28,000 Sunday morning as the leading cryptocurrency’s recent meteoric rise continues. BTC’s market value now exceeds $500 billion.
Recently, BTC has been leaving a string of broken records in its wake after passing the psychologically key $20,000 mark for the first time on Dec. 16.
In the last several days BTC seems to found yet another gear, breaking through $25,000 Friday night for the first time, and going through $26,000 Saturday afternoon like a hot poker through one-ply tissue.