Bitcoin’s value has exceeded the $1 trillion mark for the second time after the digital asset prices rose to a week’s high of €45,496 ($54,457) this morning. The cryptocurrency has experienced an 8% rise in its value over night and is up more than 80% since the start of the New Year.
Bitcoin has become increasingly popular over the last number of months due to a combination of corporate interest and retail traders piling into the market.
Institutions supporting Bitcoin
Tesla CEO Elon Musk recently purchased $1.5 billion worth of Bitcoin through the electric car company which further increased the Buzz surrounding the digital asset.
PayPal recently announced it’s acquiring cryptocurrency security firm Curv as part of its push toward Bitcoin and cryptocurrencies while Chinese photo app company Meitu became the latest corporation to add Bitcoin to its books, buying 17.9 million worth of the digital asset.
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