Bitcoin Surges To Fresh High Record Of $68,000

The cryptocurrency’s price increased by 4.1 percent on Tuesday afternoon, reaching $68,013 at 3:41 p.m.

According to data from coinmarketcap.com, this is the case.

The cryptocurrency, which set a new high in October at $67,000, has continued to gain acceptability as a substitute for fiat cash around the world.

Elon Musk, the world’s richest man and Tesla CEO, had previously endorsed Bitcoin, as have Mastercard and others.

Also, an American investment banking services holding company, the Bank of New York Mellon Corp. had announced that it would hold, transfer and issue Bitcoin and other cryptocurrencies for institutional customers.

Since the beginning of October, Bitcoin has seen a bullish run, with the crypto market in total adding nearly $1 trillion to its total value in just a month.

Currently, the total market capitalisation of the crypto market stands at $2.94 trillion.

The second-largest cryptocurrency by market capitalisation, ethereum, also reached a record high of $4,833, surpassing the $4,800 level for the first time.

Meanwhile, the Central Bank of Nigeria (CBN) has warned Nigerians against trading in cryptocurrencies.

In February, the apex bank directed banks to close accounts of persons or entities involved in cryptocurrency transactions.

CBN warned that cryptocurrencies pose the risk of loss of investments, money laundering, terrorism financing, illicit fund flows and other criminal activities.

However, the apex bank launched its own digital currency, eNaira in October.