Bitcoin goldrush sparks fears of speculative bubble

Bitcoin has enjoyed a record-breaking week after electric carmaker Tesla and Wall Street finance giants sparked a goldrush for the world’s most popular virtual currency, but bubble fears persist.

Investors and mega-corporations alike have been wooed by dizzying growth and the opportunity for profit and asset diversification.

The unit blasted past $50,000 on Tuesday following a week in which Tesla invested $1.5 billion in bitcoin and vowed customers could use it to buy vehicles and both New York bank BNY Mellon and credit card titan MasterCard announced plans to support bitcoin.