Bitcoin hit a market capitalization of $1 trillion as it rose to yet another record high on Friday, countering analyst warnings that it is an "economic side show" and a poor hedge against a fall in stock prices.
The world's most popular cryptocurrency jumped to an all-time high of $56,399.99, posting a weekly gain of 14%. It has surged nearly 70% so far this month and was last up 8% at $55,664.
Bitcoin's gains have been fueled by signs it is gaining acceptance among mainstream investors and companies, from Tesla Inc. and Mastercard Inc. to BNY Mellon.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.