Bitcoin passes $60,000 for first time as record-breaking run continues

The cryptocurrency hit an all-time high of $60,012 at 1149 GMT, according to the website CoinMarketCap.

Bitcoin has been on a meteoric rise since March last year, when it stood at $5,000, spurred by online payments giant PayPal saying it would allow account holders to use cryptocurrency.

Last month Elon Musk's electric carmaker Tesla invested $1.5 billion in the virtual unit, while Twitter chief Jack Dorsey and rap mogul Jay-Z said they are creating a fund aimed at making Bitcoin “the internet's currency”.

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