Finance

Bitcoin Exceeds $50,000 For First Time

Mainstream interest in the cryptocurrency has increased as more companies believe it could gain widespread acceptance as a means of payment.

Bitcoin Exceeds $50,000 For First Time
Charles Krupa / AP
SMS

Bitcoin continues to soar as the cost of a single unit of the digital currency surpassed $50,000 for the first time. 

To put it in perspective, that unit would've cost just $10,000 one year ago. 

Its rally continues as more companies believe Bitcoin could gain widespread acceptance as a means of payment. 

For now, most owners are treating it as a commodity like gold.