Bitcoin is approaching the next $ 50,000 milestone

  • Bitcoin is near the $ 50,000 milestone, peaking at $ 49,716.44 on Sunday morning.
  • After a $ 1.5 billion investment from Tesla was announced last week, Bitcoin went over 16%.
  • Bitcoin was trading at $ 48,344.62 as at 10:30 am ET on Sunday.
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Amid renewed excitement around cryptocurrencies, Bitcoin is near the $ 50,000 milestone, a record that would be high. Bitcoin hit a high of $ 49,716.44 Sunday morning, according to Coindesk.

Last week, Bitcoin rose from around $ 37,000 to $ 47,000 when high-profile investors entered the cradle. Bitcoin was trading at $ 48,344.62 as at 10:30 am ET on Sunday.

Tesla bought $ 1.5 billion in Bitcoin in January, prompting a 16% rise after the purchase was announced Monday morning. Morgan Stanley’s investment arm is also considering a bet on bitcoin, according to Bloomberg. And BNY Mellon, the oldest bank in America, trades Bitcoin on behalf of clients.

Read more: Dogecoin creator sold all his coins 6 years ago after he was fired – and he says the mania around the token is based on a meme

Companies such as Mastercard, PayPal, Square, and Visa, too, enable cryptocurrency transactions on their platforms.

And Bitcoin isn’t the only digital currency seeing a rise from crypto buzz. Tesla CEO Elon Musk said in a Tweet that he had bought Dogecoin for his son, prompting a 16% increase in the “meme” token.