Tesla, led by Elon Musk, confirmed that it purchased about $ 1.5 billion in bitcoin in January and expects to start accepting it as a payment in the future.
Artur Widak | NurPhoto | Getty Images
Bitcoin’s price reached a new record high of almost $50,000, as major Fortune 500 companies showed support for digital currencies.
The world’s largest cryptocurrency by market value surged to an all-time high of $49,951 late Monday, just inches away from the $50,000 level, according to data from industry website CoinDesk.
The digital asset pared back some of its gains early Tuesday, rising 3.3% in the last 24 hours to a price of around $49,167.
The digital coin has gotten a boost from news of large firms like Tesla, Mastercard and BNY Mellon warming to cryptocurrencies.