Bitcoin soars to new high above $52,000; sustainability concerns rise

Bitcoin surged to yet another record high on Wednesday, a day after the virtual currency vaulted to the $50,000 hurdle, even as analysts warned against the sustainability of such prices amid elevated volatility.

The world’s biggest digital currency, with a market capitalization of over $900 billion, hit a record of $52,577.50, fueled by signs it is winning acceptance among mainstream investors and companies, such as Tesla, Mastercard and BNY Mellon.

Bitcoin was last up 6.3% at $52,233.