Bitcoin has hit record highs for a second day after Elon Musk’s car company Tesla said it had bought about $1.5bn (£1.1bn) of the cryptocurrency.
Bitcoin rose above £34,820 before falling back slightly, but it remains 25% higher than five days ago.
Those who invested in the crypto before 2020 will have seen significant returns over the past few days.
Source: BBC
Some investors took Tesla’s move as a signal that Bitcoin would become a mainstream financial asset, with many speculating that other tech giants will follow suit.
However, there was some criticism about a green car firm investing in such an energy-intensive currency.
More from Cryptocurrency
- $86M+ Crypto Theft Linked To Reseller-Sold Ledger Wallets – How Do Devices Get Tampered With?
- Crypto Payment Gateways For Accepting Payments 2026
- What Does The UK-US Joint Statement On Stablecoins Tell Us About The Future Of Crypto?
- Will The US CLARITY Vote Shield Corporate Crypto Users From Legal Risk?
- Top Blockchain Companies In Saudi Arabia
- Stablecoins Are Going Mainstream – What Do The People Actually Using Them Think?
- Forget Cash And Cards – Stablecoins Are Becoming The New Way The World Pays For Things
- Interview With Michael J Bannach, Founder & President Of Stealth Technology Group On AI Governance Blind Spots Putting Bosses’ Jobs At Risk
Bitcoin currently uses more energy than Argentina every year, according to analysis from the University of Cambridge.
Source: BBC
