Bitcoin crossed a record high of $60,000 on Saturday morning, continuing its rally as major companies and financial institutions adopt cryptocurrencies.
Bitcoin, the world’s biggest cryptocurrency, was at $60,415.34 as of 7:25 a.m. ET, according to Coinbase, recovering from a dip at the end of February that followed a previous record high that month.
The digital currency is up 963% over the last 12 months, according to Coinbase. Its value surpassed $1 trillion last week for the second time this year.
Bitcoin’s rally is driven partly by increased adoption by larger institutional investors and firms and speculative demand. Tesla has purchased $1.5 billion worth of bitcoin and plans to accept the digital coin as payment for its products, a decision that sparked more widespread interest.
Read more at CNBC.
{Matzav.com}
