Bitcoin surges past $50,000 for first time

Bitcoin soared above $50,000 for the first time Tuesday as corporate heavyweights increasingly back the world’s most popular virtual currency. At around 1235 GMT, bitcoin hit an all-time high of $50,547.70, marking a 4.4-percent gain since Monday. It later stood at $49,213.54. The unit, once the preserve of internet geeks and hobbyists, has since exploded in popularity and has now rocketed by almost 75 percent in value this year. “The crypto king has crossed the $50,000 price level for the first time as institutions are all over it,” said AvaTrade analyst Naeem Aslam. “There is a lot of FOMO (…

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HEDGE accordingly