Bitcoin surges past $60,000 for first time
The cryptocurrency Bitcoin has risen above $ 60,000 for the first time, continuing its record.
Bitcoin, whose value has more than tripled since the end of last year, has been driven by well-known companies that adopted it as a payment method.
But some analysts said this latest increase was partly due to the huge US stimulus package approved this week.
The total market value of Bitcoin last month exceeded $ 1 trillion.
However, Bitcoin has a history of sudden price swings and has fallen dramatically several times since it was created in 2009.
Why this increase?
The recent spikes have been driven by big business.
In February, Elon Musk revealed that his electric car maker Tesla had bought $ 1.5 billion in Bitcoin and would accept it as payment for his cars in the future.
MasterCard also plans to accept certain cryptocurrencies as a form of payment, while BlackRock, the world's largest asset manager, is exploring ways it can use digital currency.
The Covid-19 pandemic has also played its role in increasing Bitcoin prices as more people go online to buy, moving away from physical coins and bills.
Critics argue that Bitcoin is less a currency and more a speculative trading tool that is open to market manipulation.
There is also concern about its environmental impact, with a large amount of energy required to carry out transactions.