Bitcoin price hits record high of Baht 1.4 million


Bitcoin’s price jumped over 20% to an all-time high of 1.4 million baht apiece after Elon Musk CEO and founder of Tesla declared the company purchased about US$1.5 billion of bitcoin in January and would start accepting the digital currency as a payment method for its products.

Altcoins, the cryptocurrencies other than bitcoin, also soared following Mr Musk’s announcement.

Ethereum (ETH), the largest altcoin, surpassed its former record high on Monday night at $1,780 in Coinbase and 53,999 baht in Thailand at 3 pm.

Cardano (ADA), the second-largest altcoin surged by 4.91% in 24 hours to 20.93 baht, Polkadot (DOT), the third-largest altcoin, surged by 15.01% to 708.51 baht at Bitkub.

Source: Bangkok Post