Bitcoin crosses $58,000 for the first time

Bitcoin continued gaining on Sunday, rising to a fresh high and extending a two-month rally that took its market capitalisation above $1 trillion on Friday.

The world’s most popular cryptocurrency rose to a record $58,354, taking its weekly gain to around 20 percent. It has surged around 100 percent this year, according to Reuters.

Bitcoin’s gains have been fuelled by evidence it is gaining acceptance among mainstream investors and companies, such as Tesla Inc, Mastercard Inc and BNY Mellon.