Bitcoin Hits New High of $62,575

Bitcoin Hits New High of $62,575

Cryptocurrency is a very hot topic these days. Especially Bitcoin, it soaked the market very rapidly. Bitcoin surges to a fresh record high of more than $63,000 on Tuesday, as investors awaited the stock market debut of cryptocurrency exchange Coinbase.

The price of bitcoin climbed as high as $63,236, according to data from coin Metrics, before easing slightly to around $62,877. It was last up about 5% in the last 24 hours. Bitcoin is the largest U.S cryptocurrency exchange listing on the Nasdaq.

The world's biggest cryptocurrency has more than doubled in price this year amid growing mainstream acceptance as an investment and a means of payment, and as investors, assets amid low-interest rates. The company reported estimated revenues of $ 1.8 billion in the first quarter of 2021, a mine-fold increase from the same period a year earlier, while profits grew between $ 730 million and $ 800 million.

Tesla recently made a $ 1.5 billion bet on bitcoin and now accepts the digital currency as a payment method for its cars. Meanwhile, Wall Street against like Goldman Sachs and Morgan Stanley are looking to offer their wealthy clients some exposure to bitcoin.

Also Read: Dogecoin: Supply and Capitalization

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