Bitcoin Has Rallied More Than 50% This Year After Hitting A Fresh High

Bitcoin Has Rallied More Than 50% This Year After Hitting A Fresh High

Bitcoin prices have climbed significantly thus far in 2021, rising from less than $29,000 at the start of the year to nearly $45,000 today.

The world's most prominent digital currency reached a fresh, new high of $44,801.87 this morning, according to CoinDesk data.

At this point, bitcoin was up nearly 55% this year, additional CoinDesk figures reveal.

After approaching the $45,000 level, the digital asset fell back somewhat, but it was still trading north of $43,000 at the time of this writing.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

Tesla Makes Waves

When explaining the digital currency's latest price gains, several market observers pointed to the recent news that Tesla, Inc. had purchased $1.5 billion worth of bitcoin, something the company revealed in a document filed with the U.S. Securities and Exchange Commission.

In addition, the auto maker revealed plans to "begin accepting bitcoin as a form of payment for our products in the near future.“

Multiple analysts interpreted these developments as positive for bitcoin.

Alex Mashinsky, cofounder, chairman and CEO of Celsius Network, offered some bullish input.

"The richest person in the world just told you he does not believe