Bitcoin is closing in on a market value of $1-trillion, a surge that’s helping cryptocurrency returns far outstrip the performance of more traditional assets like stocks and gold.
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Bitcoin jumped again on Wednesday to set another all-time high after breaching $50 000 for the first time a day earlier.
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.
Mirror Trading International was the world’s biggest crypto scam of 2020, having roped in R8.6-billion worth of bitcoin across 470 000 transactions, according to a report by Chainalysis.
Bitcoin hit a new record high $60 shy of $50 000 on Tuesday, extending a sharp rally that has been mostly fuelled by big investors beginning to take digital assets seriously.
Bitcoin pulled back from a record high on Monday and other cryptocurrencies slipped, as investors took profits from a record-breaking rally that had pushed bitcoin close to $50 000.
Bitcoin jumped to a record high after Mastercard and Bank of New York Mellon moved to make it easier for customers to use cryptocurrencies.
Mastercard is planning to offer support for some cryptocurrencies on its network this year, joining a string of big-ticket firms that have pledged similar support.
Promoted | Crypto has outperformed all other asset classes in recent years but it’s not just a story of bitcoin’s growth.
Tesla boss Elon Musk is a poster child of low-carbon technology. Yet the electric car maker’s backing of bitcoin could turbo-charge global use of a currency that’s estimated to cause more pollution than a small country every year.