Bitcoin has hit $60,000 for the first time since November 2021 – putting the cryptocurrency in touching distance of a new record high.

One Bitcoin cost $60,519 early on Wednesday afternoon after days of huge rises.

It’s close to the all time high of $67,077 recorded on 9 November 2021 when many people turned to the digital asset in the pandemic.

After a collapse in price in late 2022, it has witnessed a resurgence – in large part due to new products in the US that allow people to track the value of Bitcoin without owning it.

Bitcoin has risen by 42% since 2024 began and 20% since Saturday.

Famed for its volatility, figures from the UK’s Financial Conduct Authority suggest almost five million Britons have purchased cryptocurrencies – but in the year to April 2022, 45% of them suffered a loss.

In pound terms, Bitcoin is currently trading at about £47,800 – and a new record would be set if the digital asset surpasses £53,000.

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