He also defended Tesla's action to invest in bitcoin, saying that the difference with cash made it 'adventurous enough' for the S&P 500 company to hold the cryptocurrency
Bitcoin traded at around $51,300 as of 1:30 pm on Friday in Hong Kong after quintupling in the past year
The world's biggest digital currency, with a market capitalization of over $900 billion, hit a record of $52,577.50, fueled by signs it is winning acceptance among mainstream investors and firms
Activity in Bitcoin futures suggests traders don't see a sudden end to the crypto rally, with spreads continuing to widen between the active contract and March futures
Experts believe we are not too far from those days
Bitcoin's limited supply - based on "miners" producing a set number of new coins - has led to holders charging a premium on bitcoin coming to market
The need then is to regulate, not ban, experts say
The world's largest cryptocurrency jumped as much as 4.9 per cent to $50,548 and is now up about 70 per cent, so far this year
The recent trigger being Tesla, Inc.'s announcement of having bought $1.5 billion in bitcoin.
Bitcoin fell as much as 5.6% to $45,914 and rival cryptocurrency ethereum dropped more than 8% to $1,655
Bitcoin has been buoyed in recent months by endorsements from the likes of Paul Tudor Jones and Stan Druckenmille
Elon Musk's $1.5 billion investment in bitcoin last week is testimony to the potential of the digital asset.
Bitcoin reached $49,000 before erasing gains
Bitcoin surged yet again to a new record high after BNY Mellon said it will offer custodian services for cryptocurrencies
Bank of New York Mellon said Thursday it will hold, transfer and issue Bitcoin and other cryptocurrencies for institutional customers
Twitter had considered how it might pay vendors or employees using bitcoin, should they ask to transact using the virtual currency
She said passage of the Anti-Money Laundering Act in December would allow the Treasury Department to rework a framework for combating illicit finance that has been largely unchanged since the 1970s
Banning cryptocurrencies is a poor idea
From New Budget rules on holding firms queering the pitch for sovereign, pension funds to Pawan Ruia's EoI for Air India, Business Standard brings you the top headlines at this hour
Bitcoin has been on fire ever since Musk announced that Tesla had bought $1.5 billion of the cryptocurrency, and that his electric-vehicle company would accept bitcoin from buyers