Bitcoin has been bolstered in recent months by endorsements from Paul Tudor Jones and Stan Druckenmiller.
Bitcoin hit a new record on Sunday above $ 49,000 for the first time.
The largest cryptocurrency in the world reached about $ 49,344 earlier in the day and was about $ 49,202 at 10:20 a.m. in London.
It has now gone up 70% so far this year. Rival cryptocurrency Ether hit a record on Saturday and rose about 150% to date.
Bitcoin has been strengthened in recent months by endorsements from Paul Tudor Jones and Stan Druckenmiller.
Bloomberg previously reported that Morgan Stanley could bet on Bitcoin in its $ 150 billion investment band, following last week’s news that BNY Mellon plans to service cryptocurrencies for its clients. And that’s after Tesla Inc. deposited about $ 1.5 billion in Bitcoin. Skeptics warn that the asset class could be in full swing.
“With every big announcement like the one BNY Mellon made, it causes other institutions to adopt and deploy digital assets faster,” Patrick Campos, head of strategy at Securrency, a developer of financial and regulatory technology based on blockchain. .
“Tesla’s recent announcement will encourage other large companies and institutions to accept cryptography as not only a decent, but perhaps even essential, asset class. More important is the corresponding accumulation of institutional services to support these developments and will trigger other developments related to digital assets within these institutions and in the larger ecosystem ”.