YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
The cryptocurrency Bitcoin continues to rebound, hitting a three-month high of $50,000 Sunday.
The cryptocurrency’s value had hit an all-time high of more than $64,000 in April, but then sold off in June and July, when it fell below $30,000, in part because of scrutiny from Chinese authorities. Bitcoin has been rising steadily since mid-July, however.
Two developments last week boosted Bitcoin’s value. Coinbase stated it would buy $500 million crypto and allocate 10% of its profits to a crypto assets portfolio, and PayPal announced its intention to launch a platform for cryptocurrency exchange in the U.K.
The value of the entire cryptocurrency market was over $2.16 trillion Sunday, according to Coinmarketcap.
Bitcoin was trading at $50,263 at 6:20 a.m. ET Monday, according to CoinDesk.
Read more from CNBC.
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