Bitcoin continued gaining on Sunday, rising to a fresh high and extending a two-month rally that took its market capitalization above US$1-trillion on Friday.
The world’s most popular cryptocurrency rose to a record US$58,354, taking its weekly gain to around 20 per cent. It has surged around 100 per cent this year.
Bitcoin’s gains have been fuelled by evidence it is gaining acceptance among mainstream investors and companies, such as Tesla Inc., Mastercard Inc. and BNY Mellon.
Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Sign up today.