Bitcoin, seemingly omnipresent, crosses the $50,000 mark
After a wild week in which Bitcoin soared to new heights, Bitcoin is crossing the $50,000 mark
After a wild week in which Bitcoin soared to new heights, Bitcoin crossed the $50,000 mark early Tuesday.
Bitcoin rallied throughout the as more companies signaled the volatile digital currency could eventually gain widespread acceptance as a means of payment for goods and services Bitcoin has been mostly seen as a store of value, like gold, with very few places to spend it.
Then, last Monday, Elon Musk’s electric car company, Tesla said it had bought $1.5 billion of Bitcoin as part of a new investment strategy and would soon be accepting it as form of payment for its high-end cars.
It remains unclear how many major companies will follow Tesla’s lead. Analysts predict a slow evolution toward widespread usage of bitcoins to pay for goods and services.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.