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Bitcoin rises 8% to $48,861.48

Published 2021-03-01, 05:16 p/m
Updated 2021-03-01, 05:30 p/m
© Reuters. FILE PHOTO: A collection of bitcoin (virtual currency) tokens are displayed in this picture illustration

© Reuters. FILE PHOTO: A collection of bitcoin (virtual currency) tokens are displayed in this picture illustration

(Reuters) - Bitcoin rose 8 % to $48,861.48 on Monday, adding $3,620.52 to its previous close.

Bitcoin, the world's biggest and best-known cryptocurrency, has risen 76.2% from the year's low of $27,734 on Jan. 4.

Bitcoin, the world's biggest and best-known cryptocurrency, has fallen 16.3% from the year's high of $58,354.14 on Feb. 21.

Bitcoin's price soared this year as major firms, such as BNY Mellon, asset manager BlackRock Inc (NYSE:BLK), credit card giant Mastercard Inc (NYSE:MA), backed cryptocurrencies, while those such as Tesla Inc Square Inc (NYSE:SQ) and MicroStrategy Inc invested in bitcoin.

© Reuters. FILE PHOTO: A collection of bitcoin (virtual currency) tokens are displayed in this picture illustration

Ether, the coin linked to the ethereum blockchain network, rose 8.74 % to $1,546.06 on Monday, adding $124.29 to its previous close.

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