As per a Reuters report, the largest crypto surged 5 percent to $50,942.58 on Wednesday, adding $2,426.23 to its previous close.
From its low of $27734 hit on January 4, the bitcoin has gained a massive 83.7 percent. And hit its highest on February 21 of $58354.
The huge surge in the bitcoin currency comes as major companies BNY Mellon, Mastercard, Tesla, Square Inc as well as MicroStrategy invested in bitcoin.
In the earlier session i.e. on March 3, bitcoin price reclaimed levels of $50000 per unit. This was as risk-appetite of investors was restored and investors even took into consideration the regulatory issues concerning cryptos.