World’s largest traded cryptocurrency bitcoin rose nearly 2.5% to cross the $50,000 mark today. The cryptocurrency has crossed the key milestone for the first time since May this year. On Coinmarketcap, the price of bitcoin was up 2.46% to $50,043. Market cap of the cryptocurrency rose to $942.638 billion.
Bitcoin has risen 71.13% since the beginning of this year. Currently, the global crypto market cap stands at $2.15 trillion, 2.95% higher over the last day.
Other cryptocurrencies were also trading in the green today. Ethereum rose 3.12% to $3,331 and Dogecoin climbed 2.09% to $0.3199.
Digital token Stellar zoomed 2.23% to $0.3784 and XRP was up 1.68% to $1.25.
Litecoin added 3.48% to $188.62 and Uniswap climbed 3.44% to $29.20.
Of late, crypto prices have risen on the back of comments from billionaire Elon Musk and Ark Investment Management LLC’s Cathie Wood.
In late July, Elon Musk said Tesla was “most likely” to start accepting bitcoin as payment again. The comment helped the cryptocurrency race past the $30,000 level. The electric carmaker said in May that it would no longer accept the cryptocurrency for purchases.