Global markets at record highs; bitcoin hits $50,000 – business live | Business

“Bitcoin’s incredible rise this year shows no sign of abating. This latest landmark shows how it now has to be considered a mainstream investment asset.

“The fact that major multi-national corporations, from BNY Mellon to Mastercard, are queuing up to lend support to bitcoin demonstrates the clout it now holds. Its buying power is only going to become greater as more big names jump on board.

“Ultimately, bitcoin is disrupting the status quo, and capitalising on the waning power of the dollar. As retail investors look to hedge against inflation, and institutions look for avenues to help drive growth, there’s no reason why $70,000 can’t soon be the new normal. Although, realistically, the cryptoasset could aim higher based on its impressive 2021 performance thus far.”