Bitcoin has been boosted in recent months by endorsements from names like Paul Tudor Jones and Stan Druckenmiller.
Bitcoin reached a new record on Sunday, rising above $ 49,000 for the first time.
The largest cryptocurrency in the world hit around $ 49,344 earlier in the day, and was around $ 49,202 at 10:20 am in London.
It is now about 70% so far this year. Rival cryptocurrency Ether broke a record on Saturday and is up 150% year to date.
Bitcoin has been boosted in recent months by endorsements from names like Paul Tudor Jones and Stan Druckenmiller.
Bloomberg previously reported that Morgan Stanley may bet on Bitcoin in its $ 150 billion investment arm, following last week’s news that BNY Mellon plans to serve cryptocurrencies to its customers. And that’s after Tesla Inc put about $ 1.5 billion in Bitcoin. Skeptics warn that the asset class may be in a bubble, however.
“With each major announcement like the one BNY Mellon made, other institutions are encouraged to adopt and deploy digital assets faster,” said Patrick Campos, strategy director at Securrency, a developer of blockchain-based regulatory and financial technology, at Friday .
“Tesla’s recent announcement will encourage other large corporations and institutions to accept cryptography not only as a valuable asset class, but perhaps even essential. Most importantly, the corresponding construction of institutional services to support these developments will trigger other developments related to digital assets within these institutions and in the broader ecosystem. “