Bitcoin hits a record high of nearly $50,000 as major firms flock to crypto

Tesla, led by Elon Musk, confirmed that it purchased about $ 1.5 billion in bitcoin in January and expects to start accepting it as a payment in the future.

Artur Widak | NurPhoto | Getty Images

Bitcoin’s price reached a new record high of almost $50,000 on Sunday, as major Fortune 500 companies showed support for digital currencies.

The world’s largest cryptocurrency by market value surged more than 5% to an all-time high of $49,716 Sunday afternoon, according to data from industry website CoinDesk.

The digital asset reversed course Monday, sinking 2.4% in the last 24 hours to a price of around $47,925.

The Valentine’s Day surge was thought to have been driven by news of large firms like Tesla, Mastercard and BNY Mellon warming to cryptocurrencies.

Speak Your Mind

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get in Touch

350FansLike
100FollowersFollow
281FollowersFollow
150FollowersFollow

Recommend for You

Oh hi there 👋
It’s nice to meet you.

Subscribe and receive our weekly newsletter packed with awesome articles that really matters to you!

We don’t spam! Read our privacy policy for more info.

You might also like

Here’s why Facebook took down main page of Myanmar...

Facebook on Sunday deleted the main page of the Myanmar military under its standards...

Trump shows support for Oracle’s bid to buy TikTok...

US President Donald Trump speaks before signing a trade agreement between the US and...

BGR Talks: Dolby Senior Regional Director, Ashim Mathur elaborates...

BGR India is back with the second episode of BGR Talks. As part of...