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Bitcoin Touches $53,000 For The First Time

  • On Friday, the price of bitcoin increased to$53,000, the highest price it has touched ever in its history.

  • This price rise came after Tesla’s CEO Elon Musk called the cryptocurrency a 'less dumb' version of cash.

  • “Having some Bitcoin, which is simply a less dumb form of liquidity than cash, is adventurous enough for an S&P 500 company,” Musk said.

  • Last month, the EV giant Tesla announced that they have bought Bitcoins worth $1.5 Bn and soon they will be accepting Bitcoin as a mode of payment for their cars.

  • For the knowledge of our readers, in Indian Rupees, $53,000 is equivalent to Rs 38 lakhs.

  • The price of Bitcoin rose by almost 6% to $51,000 on Wednesday.