Bitcoin, the world’s largest cryptocurrency, has surpassed a record high of $50,000 on Tuesday. Bitcoin saw a new high of $50,602 and was hovering at $50,300.
This year, Bitcoin rose around 72 percent after tech billionaire Elon Musk’s electric vehicle company Tesla invested $1.5 billion in it.
“In December 2020, it touched an all-time high crossing $24,000 in valuation, marking a 224 percent increase from where it started its journey at the beginning of the year,”” Sumit Gupta, CEO and co-founder of CoinDCX, said in a statement.
Tesla has said that it will also begin accepting bitcoin as a form of payment for our products in the near future.
Bitcoin and cryptocurrency payment service provider BitPay also announced that its prepaid card now supports Apple Pay for in-store, in-app and online payments.
The total market capitalisation of Bitcoin at the end of 2020 was $539 billion, compared to the estimates of $12 trillion in above ground gold.