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Bitcoin Smashes Biggest Record by Far, Trading at $49,998

Sputnik International

MOSCOW (Sputnik) - The price of the Bitcoin cryptocurrency reached a new record high on Tuesday morning, approaching $50,000. 16.02.2021, Sputnik International

2021-02-16T04:51+0000

2022-10-19T21:00+0000

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Bitcoin Smashes Biggest Record by Far, Trading at $49,998

04:51 GMT 16.02.2021 (Updated: 21:00 GMT 19.10.2022)

CC BY-SA 2.0 / Antana / Bitcoin statistic coin ANTANAAn artist's concept of gold Bitcoin coins

An artist's concept of gold Bitcoin coins - Sputnik International, 1920, 16.02.2021

CC BY-SA 2.0 / Antana / Bitcoin statistic coin ANTANA

MOSCOW (Sputnik) - The price of the Bitcoin cryptocurrency reached a new record high on Tuesday morning, approaching $50,000.

According to the CoinMarketCap portal, Bitcoin’s value went up 5.43 percent to $49,605 at 04:22 GMT on Tuesday. Meanwhile Binance data showed that Bitcoin reached an all-time high of $49,998.

On Sunday, Bitcoin stalled short of the $50,000 mark, with its price surging past $49,700. However, on Monday, it slipped to $45,914 in Asian trading hours.

Bitcoin's record-breaking rally is said to be driven by a global shift in investor and public attitudes towards crypto assets.

Last week, Bitcoin's price skyrocketed as Elon Musk's electrice vehicle company Tesla confirmed a $1.5 billion investment in the cryptocurrency in January.