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.
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
- Crypto Coins To Consider in 2021
- Best Websites to Buy and Trade Cryptocurrencies
- Bitcoin Hits 2 Week Low After 6% Drop
- Bitcoin Price Falls Today After Weekend Peak
- What is Happening to Bitcoin?
- How Does Bitcoin’s Value Work?
- XRP and Stellar Altcoins Surge to All-Time High
- Bitcoin Scams and How to Spot Them
Bitcoin currently uses more energy than Argentina every year, according to analysis from the University of Cambridge.