Bitcoin Hits $50,000 For The First Time In History
Bitcoin price broke above $50,000 for the first time in history on Tuesday. Continuing its blistering rally,major companies appear to be warming to cryptocurrencies.
Bitcoin, the world’s largest cryptocurrency, garnered renewed interest in January when Musk began to tweet and about his investment and updated his Twitter bio with “#bitcoin”.
Following in the footsteps of its CEO, Telsa announced that it had updated its investment policy to get “more flexibility to further diversify and maximize returns” to allow it to invest cash reserve in “alternative reserve assets including digital assets”.
Bitcoin has gotten a boost from news of large firms like Tesla, MasterCard and BNY Mellon warming to cryptocurrencies. Tesla last revealed it had bought $1.5billion worth of Bitcoin and plans to accept the digital coin as payment for its products, while Mastercard said it would open up its network to some digital currencies . Paypal and BNY Mellon have also made big moves to support crypto.
Optimism grew after Mastercard Inc. and Bank of New York Mellon Corp. moved to make it easier for customers to use cryptocurrencies, it was stated that bitcoin may be added to its list of possible bets.
