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Bitcoin Sets Fresh Record Above $50K Pushing Yearly Gains to 69%
Bitcoin reached a new all-time high of $50,001.35 Tuesday morning, just days after breaking above $48,000.
By Zack Voell
Updated Sep 14, 2021, 12:11 p.m. Published Feb 16, 2021, 12:30 p.m.
Bitcoin reached a new all-time high of $50,001.35 Tuesday morning, just days after breaking above $48,000 for the first time.
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- The cryptocurrency's latest pop pushes 2021 gains to 69%.
- Over $400 million in bitcoin futures have been liquidated over the past 24 hours, according to Bybt, with BTC rallying more than 5% over the same period.
- Bitcoin futures contracts on the Chicago Mercantile Exchange hit a high of $50,500.
- Bitcoin's latest record high follows a flurry of institutional and corporate interest in the leading cryptocurrency.
- Last Monday, Tesla bought $1.5 billion worth of bitcoin, which saw the digital asset's price spike by almost $4,000, according to CoinDesk's price index.
- Additionally, in just the past week, Twitter's CFO said the company is considering investing in bitcoin, BNY Mellon announced plans to custody cryptocurrency for its clients and PayPal confirmed its plans to add crypto to its Venmo product.
- The overall crypto market broke $1.5 trillion for the first time on Monday.
See also: Institutions Not Worried About Bitcoin Dropping Below $40K, Options Data Shows
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