Bitcoin surges past USD 60,000 for first time

(FASTNEWS | COLOMBO) – Cryptocurrency Bitcoin has risen for the first time above USD 60,000, continuing its record-breaking run.

Bitcoin – which has more than tripled in value since the end of last year – has been powered on by well-known companies adopting it as a method of payment.

But some analysts said this latest surge came in part due to the huge United States (US) stimulus package approved this week.

Bitcoin’s total market value last month exceeded USD 1 trillion.

However, Bitcoin has a track record of wild price swings and has fallen sharply a number of times since it was created in 2009.