| UPDATED: 19:28, Tue, Mar 2, 2021
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Bitcoin has seen unprecedented demand in recent months, with coinmarketcap.com showing its price rose from around $6,000 in March 2020 to $50,000 in February. While a lucky few may have benefited from this rise, cryptocurrencies across the board are still facing scrutiny from regulators and governments across the world.
Bitcoin at new high of $53,263 after Elon Musk defends Tesla s investment
After Musk s endorsement, Bitcoin surged to its new record high of $53,263 at 9:55 am on Friday in New York. The cryprocurrency has risen 10 per cent just this week
BusinessToday.In | February 19, 2021 | Updated 22:27 IST
Bitcoin got another leg-up on Friday after billionaire Elon Musk defended the investment by his electric vehicle company Tesla in the popular cryptocurrency. After Musk s tweet, where he called Bitcoin simply a less dumb form of liquidity than cash , the digital currency raced to a new high of $53,263. Tesla s action is not directly reflective of my opinion. Having some Bitcoin, which is simply a less dumb form of liquidity than cash, is adventurous enough for an S&P500 company, Musk tweeted in response to a tweet on sub-zero returns on cash caused by negative-yielding debt.
Bitcoin crosses $34,000 first time in 12 years, rises $5,000 in 3 days
A day after crossing $30,000, Bitcoin reached an all-time high of $34,544.94 on Sunday as the rally continued for the third day of 2021. It later gave up some gains to hover around $33,000
BusinessToday.In | January 3, 2021 | Updated 18:36 IST
Bitcoin continued its unabated rally on the third day of 2021. The most popular cryptocurrency surged past $34,000 on Sunday, the day of Bitcoin Network s 12-year anniversary. The development came within 24 hours of Bitcoin crossing the $30,000 milestone.
With yet another above $1,000 surge, Bitcoin s value has increased around $5,000 in the within the first three days of 2021, bringing its year-to-date returns to 12 per cent, reported Coindesk.