Cryptocurrency bitcoin traded just shy of the new record high of $52,640, after sharply rising roughly 58 per cent in the month of February. The rally has prompted some analysts to warn that the bitcoin might be unsustainable. The world’s biggest cryptocurrency took a big stride towards mainstream acceptance after Tesla Inc announced a $1.5 billion investment, and corporate majors such as Mastercard, BNY Mellon, PayPal embraced the cryptocurrency. Bitcoin has a market capitalisation of over $900 billion, and was last up 1.25 per cent at $ 51,791.
