Bitcoin hits a record high of nearly $50,000 as major firms flock to crypto

Bitcoin hits a record high of nearly $50,000 as major firms flock to crypto | Reported by CNBC.

• “Bitcoin surged more than 5% to an all-time high of $49,716 Sunday afternoon, according to data from industry website CoinDesk.”
• “The cryptocurrency has since reversed course, sinking 2.4% in the last 24 hours to a price of around $47,925.”
• “The Valentine’s Day surge was driven by news of large firms like Tesla, Mastercard and BNY Mellon warming to cryptocurrencies.”

“Bitcoin’s price reached a new record high of almost $50,000 on Sunday, as major Fortune 500 companies showed support for digital currencies.

The world’s largest cryptocurrency by market value surged more than 5% to an all-time high of $49,716 Sunday afternoon, according to data from industry website CoinDesk.

The digital asset reversed course Monday, sinking 2.4% in the last 24 hours to a price of around $47,925.

The Valentine’s Day surge was thought to have been driven by news of large firms like Tesla, Mastercard and BNY Mellon warming to cryptocurrencies.”

Read the full story at CNBC.