Bitcoin tops $60,000 in record high

Bitcoin, the world’s biggest cryptocurrency, on Saturday crossed the $60,000 threshold.

Riding on the wave of broader acceptance as a means of payment, Bitcoin has risen sharply this year, outperforming conventional asset classes.

In recent weeks, companies have taken advantage of its strength to raise hundreds of millions of dollars in funding, capitalizing on improved market sentiment.

A $1.5 billion bitcoin bet 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.

This is as cryptocurrency advocates push for regulatory approval for mainstream endorsement.

Banking powerhouse Goldman Sachs Group Inc. said this week that it is exploring how to serve a growing base of clients seeking to invest in Bitcoin, and this month it started dealing bitcoin futures and non-deliverable forwards.

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