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Bitcoin, the world’s largest cryptocurrency, on Saturday reached a record high of $ 60,000.
Bitcoin has risen sharply this year, vastly outpacing conventional asset classes, in part due to greater acceptance as a form of payment.
In recent weeks, companies have used their strength to raise hundreds of millions of dollars in financing, capitalizing on improving market sentiment.
BILL GATES IS CONCERNED WITH BITCOIN, OTHER CRYPTOCURRENCES FOR THIS REASON
A $ 1.5 billion bitcoin bet made by Tesla Inc last month saw Elon Musk’s electric car company join business software company MicroStrategy Inc and payments company Square Inc, Twitter chief Jack Dorsey, to exchange some traditional cash reserves for digital currency.
Coinbase, the largest cryptocurrency exchange in the United States, filed for a quote on Nasdaq last month. Regulatory approval would represent a historic victory for cryptocurrency advocates who seek conventional endorsement.
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Amid growing customer demand for owning and investing in bitcoin, Goldman Sachs Group Inc. said this week that it is exploring how to serve these customers while staying on the right side of regulation. She recently restarted a cryptocurrency trading desk and, this month, started trading bitcoin and nondeliverable futures contracts.