+ 0.79
+ 0.23%

Bitcoin Crosses $50,000 For The First Time Ever

February 16, 2021 12:12 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Bitcoin Crosses $50,000 For The First Time Ever

Bitcoin (BTC), the world’s apex cryptocurrency, hit a new all-time high above the $50,000 mark, late Monday.

The coin hit a new height of $50,210.66, as per data from Messari, and had retreated to $49,402 as of press time, up 5.69% over 24 hours.

Several altcoins are posting gains too, with Ethereum (ETH) trading above the $1,800 mark, up 5%, at press time. Cardano (ADA) traded 11.9% higher at $0.876 and Polkadot (DOT) was up 10% at $28.33.

Bitcoin had dropped as low as $46,414.51 earlier in the day amid a panic sell-off. Six cryptocurrencies posted over 100% gains in the last week.

The apex cryptocurrency crossing the crucial landmark comes amid a string of positive news over the week, including a $1.5 billion investment from Tesla Inc. (NASDAQ:TSLA). At $921 billion, Bitcoin has a higher market valuation than the electric vehicle maker.

Jack Dorsey, who heads Twitter Inc. (NYSE:TWTR) and Square Inc. (NYSE:SQ), also announced that he was donating 500 BTC towards making Bitcoin the “internet’s currency,” alongside rap star Jay-Z.

Read Next: Elon Musk Asks 'Major Dogecoin Holders' To Sell Most Of Their Coins

[Update] Author's Note: Messari calculates the cryptocurrency prices based on volume-weighted average of major exchanges. Different market trackers could have different methodologies that could lead to them showing a (typically, insignificantly) different Bitcoin price at any given point. In this particular case, Messari data reflected Bitcoin hitting $50,000 earlier than most other market trackers.

Related Articles

Traders Of Crypto Report: 70% Of The Decade's Largest Financial Hacks Involve Stolen Bitcoin

The past decade’s most significant financial hacks have been a crypto heist of some kind. read more

Crypto Broker Voyager Digital's AUM Crosses $2.4B After Record-Setting Month

Voyager Digital Ltd (CNSX: VYGR), a crypto-asset trading platform for retail and institutional investors, has witnessed a record-setting month. read more

Opinion: The Doge Days Are Over. You Invested in Dogecoin, Now What?

This column does not necessarily reflect the opinion of the editorial board of Benzinga. Everybody familiar with traditional investing knows that penny stocks are rife with fraud and scams. read more

Could Ripple's (XRP) Latest Legal Win Be 'Game Over' For The SEC Lawsuit?

Ripple, the company linked to the XRP (XRP) token, has secured yet another goal in its legal match with the U.S. Securities and Exchange Commission by getting a right to see how the regular determines which cryptocurrency is a security, CoinDesk reported Tuesday. read more