Bitcoin price hit a new record high of $71,500 on Monday, gaining 2.7 percent on the day.
After closing last week at around $69,000, the top cryptocurrency hit $71,000, and as of 11:30 a.m. (8:30 GMT) is at around $71,550.
Bitcoin has been on an upward trend since mid-January, after the US Securities and Exchange Commission’s decision to allow Bitcoin ETFs, or exchange-traded funds.
Bitcoin’s market capitalization reached $1.4 trillion, while 24-hour trading volume stood at $47 billion as of 8:30 a.m. GMT, AA writes.
