JUST IN: Bitcoin Rises Above $50,000 For First Time

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Bitcoin rose above $50,000 for the first time today while European equities eased after soaring the previous day on reduced coronavirus fears and thanks to mounting optimism over US President Joe Biden’s vast stimulus plan, traders said.

Bitcoin surged past the $50,000 mark in midday European trading, striking $50,547.70 around 1235 GMT. The price of the cryptocurrency has soared 75 per cent since the start of the year.

Meanwhile, oil held close to 13-month highs on keen demand hopes amid a severe cold snap in Texas.

Asia’s leading stock markets closed with strong gains and the dollar declined against the euro and yen.

Sterling soared to $1.3952, the highest level for nearly three years.

The euro sank to 87.06 pence, the lowest point since May.



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