Bitcoin surges past $50,000 for first time as rally resumes

Bitcoin crossed the $50,000 mark for the first time on Tuesday, nearly a decade after the world’s oldest cryptocurrency hit the $1 mark on 9 February 2011.

The latest leg of the rally, which comes even as India prepares to ban private cryptocurrencies, follows sustained interest from major global institutions.

Companies such as Tesla, MasterCard, PayPal, MicroStrategy and Apple recently adopted bitcoin into their ecosystems.