Bitcoin Hits $48,000 Barrier For The First Time

Bitcoin hit $48,000 for the first time in the early trading on Tuesday at Bitstamp, as it headed towards the $50,000 barrier.

The market value of the largest cryptocurrency in the world has now exceeded $ 891 billion.

Bitcoin has risen nearly 24% since the leading electronic car maker Tesla announced the purchase of the $ 1.5 billion cryptocurrency, which many analysts consider a watershed moment for the emerging asset.

Tesla’s disclosure Monday sent the price soaring. The company also said it would begin accepting the digital token as a form of payment for its electric cars.