Bitcoin price hit a record high as optimism gained ground ahead of the crypto exchange listing Coinbase which is scheduled for this week.
The digital currency surged as much as 5.3 percent to $63,179, surpassing the levels hit in the previous month. Also, in the pre-market trade in the US, stocks with exposure to cryptocurrency including Riot Blockchain and Marathon Digital also surged.
Now even as there remain doubts on the price sustenance for bitcoin, there has been growing mainstream acceptance which is boosting bitcoin prices as of now. Coinbase is scheduled to list on Nasdaq on April 14 at a valuation of about $100 billion.
Coinbase's debut "will mark the first official juncture between the traditional financial avenue and the alternative crypto path," Ipek Ozkardeskaya, a senior analyst at Swissquote, wrote in a note. "As such, a successful addition to Nasdaq should act as endorsement of cryptocurrencies by traditional investors."
Investment banks including Morgan Stanley as well as Goldman Sachs have announced that they would offer clients access to crypto investments.