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Bitcoin, ether hit fresh highs

Published 20/02/2021, 05:35
Updated 20/02/2021, 23:06
© Reuters. FILE PHOTO: A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken

© Reuters. FILE PHOTO: A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken

SINGAPORE/NEW YORK (Reuters) - Bitcoin hit a fresh high on Saturday, extending a two-month rally that took its market capitalization above $1 trillion on Friday.

The world's most popular cryptocurrency rose to a record $57,553, taking its weekly gain to around 20%. It has surged nearly 100% this year.

Bitcoin's gains have been fueled by evidence it is gaining acceptance among mainstream investors and companies, such as Tesla Inc, Mastercard (NYSE:MA) Inc and BNY Mellon.

Ether, the second-largest cryptocurrency by market capitalization and daily volume, on Saturday hit a record $2,040.62, for a weekly gain of about 12%.

Ether is the digital currency or token that facilitates transactions on the ethereum blockchain. In the crypto world, the terms ether and ethereum have become interchangeable.

Ether futures contracts launched on derivatives exchange CME earlier this month.

© Reuters. FILE PHOTO: Representation of the virtual currency Bitcoin is seen on a motherboard in this picture illustration

Elon Musk, the billionaire chief executive of Tesla, said on Saturday the price of bitcoin and ethereum seemed high.

Latest comments

The ramping of this is insane. It’s not even viable anymore. It is extreamly overbought.
Ether still u der priced
🥀
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