At that price, with about 18.6 million Bitcoins in circulation, Bitcoin has a market value of nearly $907 billion
Cost of a single unit of Bitcoin rises above $50,000 for the first time: How the cryptocurrency works, how it came to be, more
The price of the digital currency has risen almost 200 percent in the last three months.
Bitcoin, which lost three-quarters of its value in 2018, has soared by 24% since Friday
Cryptocurrencies plunged on Friday, with several of the largest falling by more than 20 percent and bitcoin sliding below $8,000
Bitcoin has plummeted before. Marc Singer, an adviser at Singer Xenos in Miami, noted bitcoin fell 93 percent in value over a five-month period in 2011.
Bitcoins steep gains and rapid rise have attracted investors around the world as well as intense scrutiny from government regulators
Global cryptocurrency and digital payment system Bitcoin has crossed the $4,000-threshold in value terms, it has been in existence for only seven years.
Virtual currencies like Bitcoin are all the rage in FinTech, and could potentially transform global commerce in the years ahead. Users are adopting them in the thousands each day and the value of trade in these currencies is witnessing unparalleled growth.
Bitcoin plunged by as much as 12 percent on Friday after China's central bank urged investors to take a rational and cautious approach to investing in the digital currency, which is on track for its heaviest two-day drop in two years.
The price of one bitcoin reached $875 on the Europe-based Bitstamp exchange, its strongest level since January 2014, putting the cryptocurrency on track for its best daily performance in six months.
Digital cryptocurrency Bitcoin has undergone its “halving” event which happens every four years or after every 210,000 blocks of transactions