Finance

Bitcoin surpasses $60,000 in record high as rally accelerates

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Representation of the virtual currency Bitcoin is seen on a motherboard in this picture illustration taken April 24, 2020.

Dado Ruvic | Reuters

Bitcoin crossed a record high of $60,000 on Saturday morning, continuing its rally as major companies and financial institutions adopt cryptocurrencies.

Bitcoin, the world’s biggest cryptocurrency, was at $60,415.34 as of 7:25 a.m. ET, according to Coinbase, recovering from a dip at the end of February that followed a previous record high that month.

The digital currency is up 963% over the last 12 months, according to Coinbase. Its value surpassed $1 trillion last week for the second time this year.

Bitcoin’s rally is driven partly by increased…



Source cnbc.com

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