Bitcoin rises 8% to $48,861.48

Reuters

Published Mar 01, 2021 17:16

Updated Mar 01, 2021 17:30

(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.