A representation of virtual currency bitcoin is seen in front of a stock graph in this illustration taken January 8, 2021. REUTERS/Dado Ruvic/File Photo
SINGAPORE (Reuters) - Bitcoin hit a new record high $60 shy of $50,000 on Tuesday, extending a sharp rally that has been mostly fuelled by big investors beginning to take digital assets seriously.
The first and most famous cryptocurrency, bitcoin hit $49,938 and has gained roughly 70% this year, most of that after electric carmaker Tesla said it bought $1.5 billion in bitcoin and would accept the currency as payment.
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