Bitcoin Passes $60,000 For First Time

Cryptocurrency Bitcoin hit an all-time high of $60,012 at 1149 GMT on Saturday, according to the website CoinMarketCap.

The cryptocurrency zoomed to its latest all-time pinnacle at $55.155 after a string of corporate giants embraced the digital unit. The cryptocurrency has been on a meteoric rise since March last year, when it stood at $5,000, spurred initially by the online payments giant PayPal saying it would allow account holders to use cryptocurrency. It soared past $55,000 in February but slid back to as low as $41,000 before resuming its upward run.

Cryptocurrency is benefiting from optimism in financial markets after US President Joe Biden signed a $1.9-trillion pandemic-relief bill into law. “Bitcoin’s resilience is proving to be the stuff of legend,” said Antoni Trenchev, managing partner and co-founder of Nexo in London, a crypto lender. “Every correction is an opportunity to reset and restart the move upward.”
Read also: Nigerians Drag Feminist Co For Moving $51,000 Bitcoin Donation

Photo Credit: Getty

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