Bitcoin, ether hit fresh highs
- Wall Street ends week positively; S&P 500, Dow hit record highs
- Bitcoin (BTC) Drops 3% as Turkey Bans Cryptocurrency Payments Citing Lack of Regulatory Supervision
- Morgan Stanley (MS) Archegos-Related Loss Appears to be $911M
- Dollar at 4-week low on retreating Treasury yields
FILE PHOTO: A representation of virtual currency Ethereum are seen in front of a stock graph in this illustration taken February 19, 2021. REUTERS/Dado Ruvic/Illustration
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
SINGAPORE/NEW YORK (Reuters) - Bitcoin hit a fresh high on Saturday, extending a two-month rally that took its market capitalization above $1 trillion on Friday.
The world's most popular cryptocurrency rose to a record $57,553, taking its weekly gain to around 20%. It has surged nearly 100% this year.
Bitcoin's gains have been fueled by evidence it is gaining acceptance among mainstream investors and companies, such as Tesla Inc, Mastercard Inc and BNY Mellon.
Ether, the second-largest cryptocurrency by market capitalization and daily volume, on Saturday hit a record $2,040.62, for a weekly gain of about 12%.
Ether is the digital currency or token that facilitates transactions on the ethereum blockchain. In the crypto world, the terms ether and ethereum have become interchangeable.
Ether futures contracts launched on derivatives exchange CME earlier this month.
Elon Musk, the billionaire chief executive of Tesla, said on Saturday the price of bitcoin and ethereum seemed high.
(Reporting by Vidya Ranganathan in Singapore; Additional reporting by Megan Davies in New York; Editing by William Mallard and Matthew Lewis)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Bitwage breaks through the quarantine economy towards record growth
- Oaktree offers Australia's Crown $2.3 billion buyback to remove founder Packer
- China NDRC approves 16 fixed-asset investment projects worth $6.96 billion in Q1