Bitcoin vaults at $50,000- for the very first time

Bitcoin, a form of cryptocurrency, has been in the news lately. With influential billionaires like Elon Musk tweeting about it as well as other cryptocurrencies, its value has been inching its way up.

On Tuesday, Bitcoin rose above $50,000 to a new record high, building on a rally fuelled by signs that the world’s biggest cryptocurrency is gaining acceptance amongst mainstream investors, reports Reuters.

Bitcoin hit a new high of $50,602 and was last up 5% at $50,300. It has risen around 72% so far this year.

Most of these gains have come, again, due to Elon Musk, This time, the news that Tesla will now accept payments in Bitcoin accelerated its value.

As of writing this article, 1 Bitcoin equals 35,78,385.74 Indian Rupee. 

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