SILVER SPRING, Md. (AP) - The seemingly unstoppable rise of Bitcoin continued Tuesday with the cost of a single unit of the digital currency rising above $50,000 for the first time.The price of Bitcoin has risen almost 200% in the last three months and its volatility was on display Tuesday.
After rising above $50,600, it fell back to $48,674 at 2:15 p.m. ET. At that price, with about 18.6 million Bitcoins in circulation, Bitcoin has a market value of nearly $907 billion.Bitcoin is rallying as more companies signal the digital currency could eventually gain widespread acceptance as a means of payment.
The vast majority of those who have acquired Bitcoin have treated it as a commodity, like gold, with few places accepting it in exchange for.