Bitcoin is up nearly 30 percent since Tesla announced its $1.5 billion purchase last week.
Bitcoin has just made history.
The largest cryptocurrency hit $50,000 for the first time in its 12-year existence at 4:16 a.m. UTC on the Binance exchange after breaking through a massive sell wall. It is now officially halfway to a six-digit price tag.
Image by tradingview.com
Bitcoin’s market cap is now inching closer to $1 trillion, with its dominance sitting just below 61 percent.
The pie-in-the-sky target was accurately called by Bloomberg Intelligence analyst Mike McGlone back in early January.
The cryptocurrency has been logging new all-time highs on an almost daily basis after e-car giant Tesla announced its groundbreaking $1.5 billion purchase on Feb. 8.