Bitcoin jumps above $50,000 for first time ever

San Francisco: With a sign of acceptance among the mainstream investors, world’s largest cryptocurrency Bitcoin surpassed a record high of $50,000.

This year, Bitcoin rose around 72 per cent after tech billionaire Elon Musk’s electric vehicle company Tesla invested $1.5 billion in it.

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 capitalization of Bitcoin at the end of 2020 was $539 billion, compared to the estimates of $12 trillion in above ground gold.

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