Bitcoin rose above $50,000 for first time ever in value

LONDON (The HQ News) – Bitcoin the world’s biggest cryptocurrency rose above $50,000 in value for first time ever on Tuesday.

Bitcoin after appreciating in value over 72% this year hit a record high of $50,602, and was last up 5% at $50,300.

But Tesla was only the latest in a string of large investments that have vaulted bitcoin from the fringes of finance to company balance sheets and Wall Street dealing desks, as U.S. firms and traditional money managers have started to buy a lot of it.

The massive gain in Bitcoin’s value is due to its acceptance amongst mainstream investors like electric carmaker Tesla, Wall Street dealing desks, U.S. firms and traditional money managers.