Bitcoin extends two-month rally to surpass $58,000 – live updates – The Telegraph
The price of Bitcoin surpassed $58,000 over the weekend, a new record high which came just days after its market capitalisation surpassed $1 trillion.
The cryptocurrency, which has backers including Tesla chief Elon Musk, has almost tripled in value over the past three months.
Its rally has been driven by growing acceptance among institutional investors. Earlier this month, America’s oldest bank, BNY Mellon, said it would start transacting Bitcoin for clients.
Musk has branded Bitcoin “less dumb”…