Bitcoin set a new high, rising for the first time over $49,000
Bitcoin reached a new record on Sunday, rising above $49,000 for the first time.
The world’s largest cryptocurrency reached about $49,344 earlier in the day, and was around $49,202 as of 10:20am in London.
Bitcoin has been buoyed in recent months by endorsements from the likes of Paul Tudor Jones and Stan Druckenmiller.Morgan Stanley may bet on Bitcoin in its $150 billion investment arm, following news late last week that BNY Mellon plans to service cryptocurrencies for its clients. And that’s after Tesla Inc. put about $1.5 billion into Bitcoin. Skeptics warn the asset class could be in a bubble, however.
The latest announcement by Tesla will inspire other major companies and organizations to recognize crypto as not only a respectable asset class, but maybe also a critical one.