The world's most popular cryptocurrency jumped to an all-time high just below $55,772, posting a weekly jump of 13%
He also defended Tesla's action to invest in bitcoin, saying that the difference with cash made it 'adventurous enough' for the S&P 500 company to hold the cryptocurrency
Bitcoin traded at around $51,300 as of 1:30 pm on Friday in Hong Kong after quintupling in the past year
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The world's biggest digital currency, with a market capitalization of over $900 billion, hit a record of $52,577.50, fueled by signs it is winning acceptance among mainstream investors and firms
Activity in Bitcoin futures suggests traders don't see a sudden end to the crypto rally, with spreads continuing to widen between the active contract and March futures
Experts believe we are not too far from those days
Bitcoin's limited supply - based on "miners" producing a set number of new coins - has led to holders charging a premium on bitcoin coming to market
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The need then is to regulate, not ban, experts say
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
The recent trigger being Tesla, Inc.'s announcement of having bought $1.5 billion in bitcoin.
Bitcoin has been on a tear in recent times
On a rolling 60-day basis, the swings in Bitcoin are generally smaller now than when Bitcoin was peaking in 2017.
The Nifty Bank index stole the show and hit a new peak of 37,309 levels, up 1,200 points in the intra-day trade. The index closed 1,197 points, or 3.3 per cent, higher at 37,306 levels
Bitcoin fell as much as 5.6% to $45,914 and rival cryptocurrency ethereum dropped more than 8% to $1,655
Bitcoin reached a new record on Sunday, rising above $49,000 for the first time. Read Business Standard's top stories here
Musk's electric vehicle company Tesla Inc revealed on Feb. 8 it had bought $1.5 billion of the cryptocurrency bitcoin and would soon accept it as a form of payment for cars