Bitcoin Price Rises Above $50,000 As Rebound Continues

The world's largest cryptocurrency rose to $50,341, as investors bet that the prospect of more US stimulus spending would lead to further gains.

Bitcoin's price surged past $50,000 on Monday for the first time since May, continuing its rebound from a months-long slump. The world's largest cryptocurrency rose to $50,341, as investors bet that the prospect of more US stimulus spending would lead to further gains, and more mainstream financial services firms made moves in the nascent asset class. Bitcoin has risen 81 per cent since hitting a yearly low of $27,700 in January. Meanwhile, the price of rival cryptocurrency ether rose 2.8 per cent to $3,337. The virtual coin has risen 91 per cent since slumping to below $1,740 last month.