Amid record rally, Bitcoin breaks above $50,000 for first time ever

Bitcoin has risen around 72% so far this year, with most of the gains coming after electric carmaker Tesla said it had bought $1.5 bn in it

Bitcoin blew through another milestone, surging past $50,000 for the first time as the blistering rally in the largest cryptocurrency continues to captivate investors worldwide.

The world’s largest cryptocurrency reached about $50,191 as of 7:32 a.m. in New York and is now up about 73% so far this year. Ether, a rival crypto, hit a record on Friday and is up about 140% year-to-date.

After ending last year with a fourth-quarter surge of 170% to around $29,000, Bitcoin token jumped to $40,000 seven days later. It took just nearly six weeks to breach the latest threshold, buoyed by endorsements from the likes