Bitcoin extends gains above $47,000 in Asia

SINGAPORE, Feb 9 (Reuters) – Cryptocurrencies extended gains in Asia on Tuesday, with bitcoin and ethereum reaching record highs, in the wake of a Tesla Inc investment in bitcoin.

Bitcoin posted its largest daily percentage gain in more than three years overnight, after Tesla made the announcement in its 2020 annual report.

Bitcoin added as much as 2.5% to hit a record high of $47,565.86 on Tuesday and has gained 61% for the year so far. Ethereum hit a record of $1,784. (Reporting by Tom Westbrook in Singapore and Stanley White in Tokyo; Editing by Himani Sarkar)