Bitcoin rallies after warm words from Wall Street | Business

Bitcoin has crossed the $50,000 level again after analysts declared that cryptocurrencies have become “too large to ignore”.

The world’s largest digital currency has rallied by a fifth over the past week as more Wall Street institutions immersed themselves in the wider crypto-space. Smaller assets, including ethereum, binance and dogecoin, have also risen sharply.

Heightened interest lifted bitcoin by 3.9 per cent to a four-week high of $50,940.36, its latest recovery in the midst of a turbulent year of trading which has highlighted its volatility.

Bitcoin was created in 2008 as strings of computer code with no physical form by a software developer using the name Satoshi Nakamoto. Intended as an alternative means of payment for goods and services, its main use so far has

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