Bitcoin keeps hitting new highs after Tesla backing
- Update Time : Monday, February 22, 2021
- 190 Time View
Much talked-about cryptocurrency bitcoin has continued to hit record highs having broken through $50,000 (£35,700) last week.
On Sunday, bitcoin hit another peak rising above $58,000 as it continues its strong momentum this year.
The cryptocurrency has risen more than 90% since the start of January, pushing its total market value above $1tn.
The recent spike has been fuelled by Tesla and other big companies accepting it as payment.
However, bitcoin has a track record of wild price swings and has fallen sharply a number of times since it was created in 2009.
Bitcoin started the year at roughly $28,900, according to figures from cryptocurrency news site CoinDesk.
(BBC)
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