(Reuters) – Bitcoin rose 5% to $ 50,942.58 on Wednesday, adding $ 2,426.23 to its previous close.
Bitcoin, the largest and most popular cryptocurrency in the world, rose 83.7% from a low of $ 27,734 on January 4th.
Bitcoin fell 12.7% from $ 58,354.14 on February 21.
The price of Bitcoin has risen this year as major companies such as BNY Mellon, asset manager BlackRock Inc, credit card giant Mastercard Inc, have backed cryptocurrencies, while those such as Tesla Inc Square Inc and MicroStrategy Inc have invested in bitcoin. .
Ether, the currency linked to the blockchain ethereum, rose 7.18% on Wednesday to $ 1,595.64, adding $ 106.84 to its previous close.
Reporting of Bhargav Acharya in Bengaluru; Editing by Chris Reese