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Bitcoin crosses $50,000 for the first time as record rally continues

The world's largest cryptocurrency jumped as much as 4.9 per cent to $50,548 and is now up about 70 per cent, so far this year

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The same Bitcoin just one year ago would have cost you $10,000. The price is up almost 200 per cent in the last three months alone

AP | PTI
The seemingly unstoppable rise of Bitcoin continued on Tuesday with the cost of a single unit of the digital currency rising above $50,000 for the first time.

The world’s largest cryptocurrency jumped as much as 4.9 per cent to $50,548 and is now up about 70 per cent, so far this year. Bitcoin pared its gain after setting the record high. Ether, a rival crypto, hit a record on Friday and is up about 140 per cent year-to-date.

The same Bitcoin just one year ago would have cost you $10,000. The price is up almost 200 per cent in the last three