Tesla, led by Elon Musk, has confirmed that it bought about $ 1.5 billion in bitcoin in January and expects to accept it as payment in the future.
Artur Widak | NurPhoto | Getty Images
Bitcoin’s price reached a new record high of almost $ 50,000 on Sunday as major Fortune 500 companies showed support for digital currencies.
The world’s largest cryptocurrency by market value rose more than 5% to a high of $ 49,716 on Sunday afternoon, according to data from industry website CoinDesk.
The digital asset reversed on Monday and fell 2.4% over the past 24 hours to a price of about $ 47,925.
The Valentine’s Day boom is thought to be driven by news of big companies such as Tesla, Mastercard and BNY Mellon warming up cryptocurrencies.