Bitcoin, the world’s largest and best-known cryptocurrency, is up 83.7% from its annual low of $ 27,734 on Jan. 4.

Bitcoin rose 5% to $ 50,942.58 on Wednesday, increasing its previous closing price by $ 2,426.23.

Bitcoin, the world’s largest and best-known cryptocurrency, is up 83.7% from its annual low of $ 27,734 on Jan. 4.

Bitcoin is down 12.7% from its annual high of $ 58,354.14 on February 21.

Bitcoin’s price soared this year as big companies like BNY Mellon, wealth manager BlackRock Inc, credit card giant Mastercard Inc backed cryptocurrencies while companies like Tesla Inc Square Inc and MicroStrategy Inc invested in Bitcoin.

Ether, the coin connected to Ethereum’s blockchain network, rose 7.18% to $ 1,595.64 on Wednesday, increasing the previous closing price by $ 106.84.

(Reuters)