Name Price24H (%)
Bitcoin (BTC)
$50,094.00
3.18%
Ethereum (ETH)
$1,649.59
0.17%
XRP (XRP)
$0.461375
0.02%
Litecoin (LTC)
$185.74
2.90%
Bitcoin Hits New All-Time High as BNY Mellon Announces Crypt...
News

Bitcoin Hits New All-Time High as BNY Mellon Announces Crypto Custody



Bitcoin set a new record highs on Thursday after BNY Mellon, America’s oldest bank, announced crypto custody for institutional clients.

The cryptocurrency set a new high of $48,297 during the U.S. trading hours, surpassing the previous peak price of $48,226 registered on Tuesday, according to CoinDesk 20 data.

Buyers stepped in around $46,700 after BNY Mellon said it will hold, transfer and issue bitcoin and other cryptocurrencies on behalf of its asset-management clients.



“Bitcoin is loving the BNY Mellon news. It’s a very big deal,” trader and analyst Alex Kruger tweeted.

A wave of institutional adoption has hit the bitcoin market this week, pushing prices higher by 22%.

On Monday, the U.S. electric car maker Tesla, a Fortune 500 company, announced bitcoin purchases worth $1.5 billion, bolstering the cryptocurrency’s appeal as a reserve asset. Payments giant Mastercard said early Thursday that it is planning to allow merchants to accept crypto payments.

Source: CoinDesk.com

coinmag

Cryptocurrency news, blockchain news, markets news, cryptocurrency analysis, cryptocurrencies prices.