Bitcoin Reaches a New Height of $62,575

 

• On Tuesday, Bitcoin reached a new high of $62,575 (roughly Rs. 47 lakhs), expanding its 2021 rally to new heights.

• BNY Mellon, Mastercard, and Tesla are among the major companies that have adopted or invested in cryptocurrencies.

• Elon Musk, the CEO of Tesla, recently revealed that the company's electric vehicles can now be purchased with Bitcoin, and that the option will be available outside of the United States later this year.

• Musk, who promotes cryptocurrencies on Twitter, slammed traditional money in February, claiming that when it "has negative real interest, only a fool wouldn't look elsewhere."

• PayPal revealed in March that it will begin enabling US customers to pay with their cryptocurrency holdings at millions of its online retailers around the world, a step that could dramatically increase the usage of digital assets in daily commerce.

• Customers with Bitcoin, Ether, Bitcoin cash, and Litecoin in their PayPal digital wallets will be able to convert their holdings to fiat currencies at checkouts to make transactions, according to the business.

• "This is the first time you can use cryptocurrencies inside your PayPal wallet in the same way you can use a credit card or a debit card," PayPal President and CEO Dan Schulman told Reuters ahead of the official announcement.

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