Bitcoin reached a new all-time high of $50,689.35 Tuesday, just days after breaking above $48,000 for the first time.
- The cryptocurrency’s latest pop pushes 2021 gains to 69%.
- Bitcoin’s latest record high follows a flurry of institutional and corporates interest in the leading cryptocurrency.
- Last Monday, Tesla bought $1.5 billion worth of the cryptocurrency, which saw the digital asset’s price spike by almost $4,000, according to CoinDesk’s price index.
- Additionally, in just the past week, Twitter’s CFO said the company is considering investing in bitcoin, BNY Mellon announced plans to custody cryptocurrency for its clients and PayPal confirmed its plans to add crypto to its Venmo product.
- The overall crypto market broke $1.5 trillion for the first time on Monday.