It seems like just last year when Bitcoin traded under $4,000. Wait, that was last year. My, how time and Bitcoin fly.
The digital currency rose above $50,000 on Tuesday to a new record high, building on a rally fueled by signs that the world’s biggest cryptocurrency is gaining acceptance amongst mainstream investors.
Bitcoin hit a new high of $50,602. It has risen around 72% so far this year, with most of the gains coming after electric carmaker Tesla said it had bought $1.5 billion in bitcoin.
It also said it would accept the currency as payment.
There’s no way to predict how far Bitcoin will run, or how low it will drop when the gains reverse. The next round number goal is $75,000, then it’s on to $100,000, if it makes it that far.