Just In: Bitcoin Jumps Above $50,000 For The First Time Since May
Bitcoin rose back above $50,000 on Monday for the first time in three months after supportive news from payments giant PayPal and cryptocurrency platform Coinbase.
The world’s most popular virtual unit jumped to $50,440 during Asian trade, before easing to $50,350 in early morning London deals.
“Bitcoin continues its recent recovery, moving above the $50,000 mark it last attained in May though still some way short of its $65,000 record as PayPal announces plans to launch its cryptocurrency trading platform in the UK,” said AJ Bell analyst Danni Hewson.
PayPal has announced that it will this week start to allow users in Britain to buy, hold and sell cryptocurrency via the online payment platform for the first time.
The expansion into the hot digital money trend follows similar moves by the payments giant in the United States earlier this year.
The US firm said its new service would allow UK-based customers to choose from four types of cryptocurrency: bitcoin, ethereum, litecoin and bitcoin cash.
They will be available both via the PayPal app and its website, with the expansion set to start this week and be available to all eligible customers within the next few weeks.
