Bitcoin, the world’s biggest cryptocurrency, crossed a record high of $60,000 on Saturday.
Broadly outperforming conventional asset classes, Bitcoin has risen sharply this year partly due to the broader acceptance of it as a form of payment.
Many companies have started to take advantage of its strength to raise hundreds of millions of dollars in funding, capitalizing on improved market sentiment.
The recent $1.5 billion bitcoin investment last month by Tesla Inc saw Elon Musk’s electric car company join business software firm MicroStrategy Inc and Twitter boss Jack Dorsey’s payments company Square Inc in swapping some traditional cash reserves for the digital coin
In fact, Coinbase, the biggest U.S. cryptocurrency exchange, filed last month for a Nasdaq listing. A regulatory approval would certainly represent a landmark victory for cryptocurrency advocates who are seeking additional mainstream endorsement.
Amid rising customer demand to own and invest in bitcoin, Goldman Sachs Group Inc. recently said that it is exploring how to serve those clients while remaining on the right side of regulation.
It recently restarted a cryptocurrency trading desk and this month it started dealing bitcoin futures and non-deliverable forwards.