Bitcoin hits fresh high

Bitcoin hits fresh high

FILE PHOTO: A representation of virtual currency Bitcoin
A representation of virtual currency Bitcoin is seen in this illustration taken on Nov 19, 2020. (File photo: Reuters/Dado Ruvic)

NEW YORK: Bitcoin continued gaining on Sunday (Feb 21), rising to a fresh high and extending a two-month rally that took its market capitalisation 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, Mastercard and BNY Mellon.

Source: Reuters/kg