With record fresh highs, Bitcoin surges over 92% in 2021

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(Photo for representation: Pixabay)

The world’s most popular cryptocurrency — Bitcoin — rose to a record $56,620, taking its weekly profit to 18 per cent on Saturday.

It’s surged more than 92 per cent this year.

Bitcoin’s gains have been fuelled by evidence gaining acceptance among mainstream investors and businesses, including Tesla Inc, Mastercard Inc, and BNY Mellon.

Bitcoin hit a new high in Asian trading on Saturday, extending a two-month rally that saw its market capitalisation cross $1 billion per day before.

Ether, the second-largest cryptocurrency by market capitalization and daily volume, hit a record $2,040.62, for a weekly profit of about 12%.

Ether futures contracts started on derivatives exchange CME earlier this month. Ether is the digital currency or market that facilitates trades on the ethereum blockchain.

From the crypto world, the terms ether and ethereum have become interchangeable.