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Reuters
Reuters
Business

Bitcoin hits fresh high

FILE PHOTO: A representation of virtual currency Bitcoin is seen in this illustration taken November 19, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

Bitcoin continued gaining on Sunday, rising to a fresh high and extending a two-month rally that took its market capitalization above $1 trillion on Friday.

The world's most popular cryptocurrency rose to a record $58,354, taking its weekly gain to around 20%. It has surged around 100% this year.

Bitcoin's gains have been fueled by evidence it is gaining acceptance among mainstream investors and companies, such as Tesla Inc, Mastercard Inc and BNY Mellon.

(Reporting by Megan Davies in New York; Editing by Daniel Wallis)

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