Bitcoin surpasses $60,000 in record high as rally accelerates

Bitcoin crossed a record high of $60,000 on Saturday morning, continuing its rally as major companies and financial institutions adopt cryptocurrencies.Bitcoin, the world's biggest cryptocurrency, was at $60,415.34 as of 7:25 a.m. ET, according to Coinbase, recovering from a dip at the end of February that followed a previous record high that month.The digital currency is up 963% over the last 12 months. Its value surpassed $1 trillion last week for the second time this year. Bitcoin's rally is driven partly by increased adoption by larger institutional investors and firms and speculative demand. Tesla has purchased $1.5 billion worth of bitcoin and plans to accept the digital coin as payment for its products, a decision that sparked more widespread interest.Mastercard also said it will open up its network to some digital currencies. And PayPal and BNY Mellon have made some moves into the space.Bitcoin believers argue that the current rally…

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