Bitcoin hits record as Mastercard, BNY Mellon embrace crypto

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Bitcoin jumped to a record high after Mastercard and Bank of New York Mellon moved to make it easier for customers to use cryptocurrencies.The largest digital asset rose as much as 7.4 per cent to $US48,364 ($62,331), surpassing the all-time high reached on Monday (US time) after Tesla announced it would hold $US1.5 billion of the cryptocurrency on its balance sheet. The wider Bloomberg Galaxy Crypto Index also touched a record.“Bitcoin appears to be in a near-perfect storm for higher prices, and Tesla has helped solidify about $US50,000 as the next whole number resistance target,” said Mike McGlone, a Bloomberg Intelligence commodity strategist.In a blog post, Mastercard said it would offer some cryptocurrencies to its cardholders by the end of 2021. It singled out so-called stablecoins, which often peg their value to that of another asset, such as the US dollar. Mastercard has already partnered with crypto card providers such…

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