Finance
Bitcoin rises 5% to $50,942.58
(Reuters) – Bitcoin rose 5% to $50,942.58 on Wednesday, adding $2,426.23 to its previous close.
Bitcoin, the world’s biggest and best-known cryptocurrency, has risen 83.7% from the year’s low of $27,734 on Jan. 4.
Bitcoin has fallen 12.7% from the year’s high of $58,354.14 on Feb. 21.
Bitcoin’s price soared this year as major firms, such as BNY Mellon, asset manager BlackRock Inc, credit card giant Mastercard Inc, backed cryptocurrencies, while those such as Tesla Inc Square Inc and MicroStrategy Inc invested in bitcoin.
Ether, the coin linked to the ethereum blockchain network, rose 7.18 % to $1,595.64 on Wednesday, adding $106.84 to its previous close.
(Reporting by Bhargav Acharya in Bengaluru; Editing by Chris Reese)
-
Top Stories2 days ago
After VW plant victory, UAW sets its sights on Mercedes in Alabama
-
Investing2 days ago
Forex Market Trends to Watch Out For in 2024
-
Business2 days ago
Mike Bahun and Fundraising University Make a Lasting Impact on Sports Programs Nationwide
-
Top Stories2 days ago
Hedge fund borrowing hits five-year peak, Goldman Sachs says