Bitcoin hits record high of over $62,500

Bitcoin, the most popular cryptocurrency, hit a fresh record high above $62,124 on 13 April, according to trading data.

As of 08:23 GMT, bitcoin rose to $62,700, according to Binance, the largest cryptocurrency exchange in terms of trading volume.

According to the CoinMarketCap portal, which calculates the average price based on data from more than 20 exchanges, bitcoin rose by 2.84 percent to $62,600.

Bitcoin’s most recent value spike has largely been sparked amid the growing use of the cryptocurrency as an investment and means of payment. Since the start of this year, Bitcoin has more than doubled in price. 

Earlier in March, media reported US investment bank Goldman Sachs could soon offer investment vehicles for digital assets, including Bitcoin. 

Bitcoin has been extending gains since its value soared in January, when electric vehicle company Tesla confirmed a $1.5 billion investment in the cryptocurrency. Bitcoin is currently the biggest digital currency in terms of market capitalisation. It was launched in 2009 after being invented a year earlier by Satoshi Nakamoto, whose actual identity remains unknown.

Article source: https://nation.com.pk/13-Apr-2021/bitcoin-hits-record-high-of-over-dollar-62-500