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The run up in Bitcoin is seeing no cooling off. On Sunday, the company hit a fresh high and this is after on Friday, the cryptocurrency went past a market capitalization of above $1 trillion.
On Sunday, the bitcoin prices hit a new high of $58,354, taking its weekly gain to around 20%. On a YTD basis, the digital currency has gone higher by a massive 100 percent.
Bitcoin's gains have been fueled by its acceptance by major institutional players including Tesla Inc, Mastercard Inc and BNY Mellon.
India factor
Back home, promoters need to offload their positions in cryptocurrencies before coming off with the IPO. This is as per sources privy to the development.
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