Bitcoin tops $50,000 as it wins more mainstream acceptance

Author : Damini Chandankar

Bitcoin hits a record of $50,603 and was last up 0.83% at $48,351. It has increased around 67% so far this year, with the majority of the giants coming after electric carmaker Tesla said it had bought $1.5 billion in bitcoin.

Evolve Funds Group said on Tuesday it had applied to launch a Bitcoin exchange-traded fund on the Toronto Stock Exchange. That would be the second planned bitcoin ETF after Canada's main securities regulator affirmed a fund by Purpose Investments Inc.

Such standard moves could help bitcoin become a widespread means of payment - having so far neglected to accomplish large -scale adoption and in turn bolster prices.