Bitcoin has reached a new record high. The crypto coin was worth more than $ 62,500 on Tuesday morning. Ether rose to a record value of more than $ 2,200.
Investors have probably been especially excited lately because Coinbase, the largest digital currency trading platform in the United States, will soon be going public.
According to CoinMarketCap, which monitors various platforms on which crypto coins are traded, bitcoin was worth about $ 62,575 around 10:30 am. A month ago, the currency’s price peaked at more than $ 61,000. After that, the exchange rate dropped to about $ 51,000 and then rose again.
Ether, the second-largest coin in market value after bitcoin, was worth $ 2,215 at around 10.30 am, according to CoinMarketCap. The coin is therefore worth three times as much as at the beginning of the year.
The total value of all crypto coins together is more than 2.1 trillion dollars or 2130 billion dollars. The crypto market has doubled in value in more than two months.
The price of crypto-coins has been on the rise since large companies increasingly accept them. For example, electric car maker Tesla accepted bitcoin as a means of payment and payment companies such as Mastercard, Visa and PayPal also embraced digital currencies.
Experts also point out that investors are looking for higher returns as interest rates remain low.