Name: Bitcoin vaults above $50,000 for first time
Uploaded: 2021-02-16T22:20:07.000Z
Duration: 1 min 25 s
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Bitcoin has leapt above $50,000 for the first time, the new record high on Tuesday, built on a rally fueled by signs that the world's biggest crypto currency is gaining mainstream acceptance.

Bitcoin soon edged back from the record high, but it's still up around 70% so far this year.

Past perfect

Most of the gains came after electric carmaker Tesla said it had bought $1.5 billion in Bitcoin on would accept the Currency as payment for its cars.

But Tessler was only the latest in a string of large investments that have vaulted Bitcoin from the fringes of finance to company balance sheets and Wall Street dealing desks.

A Wanda senior market analyst, Craig Earlham, though, says it's still in its early stages.

Not every company is Tesla, and no, every CEO is hell on Muslim.

But that doesn't mean they're not going to be adding their names to the list of those preparing for a possibility.

Where Bitcoin becomes part of the future on, I'm sure it's gonna be a wild ride.

That's the one thing you can say for certain.

One manager at Crypto Hedge Fund, Arc, 36 told Reuters that he would like to offer a word of caution on that.

While the long term outlook is bullish, massive price fluctuations along the way are only to be expected.

Bitcoin, he said, is still extremely volatile.

 Smaller crypto currency Ethereum edged over 1% higher on Tuesday, just shy of its own record high. 