(Reuters) – Bitcoin was up 5% on Wednesday to $ 50,942.58, adding $ 2,426.23 from the previous close.
Bitcoin, the world’s largest and best-known cryptocurrency, is up 83.7% from its low of $ 27,734 in the year on Jan. 4.
Bitcoin is down 12.7% from its all-time high of $ 58,354.14 on Feb. 21.
The price of Bitcoin soared this year as major companies such as BNY Mellon, asset manager BlackRock Inc, credit card giant Mastercard Inc, supported cryptocurrencies, while those such as Tesla Inc Square Inc and MicroStrategy Inc invested in bitcoin.
Ether, the coin linked to the ethereum blockchain network, rose 7.18% to $ 1,595.64 on Wednesday, adding $ 106.84 from the previous close.
Reporting by Bhargav Acharya in Bengaluru; Editing by Chris Reese