Bitcoin price surpasses $ 50,000 for the first time since May

[ad_1]

This is the first time that bitcoin has reached this milestone since May 15. Bitcoin’s peers rose as well: Ethereum rose more than 3%, while dogecoin rose almost 2%.

Bitcoin had moved closer to that mark all weekend before finally crossing it on Sunday evening Eastern Time, according to data from CoinDesk.

Cryptocurrency is also experiencing a boom after PayPal (PYPL) announced that it will allow people to buy, hold and sell four types of cryptocurrency bitcoin, ethereum, litecoin and bitcoin cash in the UK. The announcement marks the first international expansion of the company’s cryptocurrency offering outside of the United States, where it launched the service in October of last year.

With the move, “access, knowledge and exploration of cryptocurrency has the potential to become mainstream in the UK,” the company said in a statement.

The past few months have been hectic for cryptocurrency. Bitcoin, which hit an all-time high of nearly $ 65,000 in April, fell to $ 28,800 in June after China stepped up its crackdown on digital currencies. Bitcoin, which hovered between $ 30,000 and $ 40,000 for many weeks, began to rise. of its collapse last month, when major tech giants signaled or appeared to signal support for digital currencies. The list generated a buzz about the tech firm’s future involvement in cryptocurrencies and its potential to further legitimize the nascent digital currency industry. Bitcoin and its ilk were also boosted last month by bullish comments from Tesla (TSLA) and Twitter (TWTR) chief executives Elon Musk and Jack Dorsey, who each explained how they incorporated or plan to incorporate currencies. digital technology in their businesses.

[ad_2]