Bitcoin Hits Record as Mastercard, BNY Mellon Embrace Crypto

Mastercard to focus on stablecoins; BNY Mellon on custody
Largest cryptocurrency has surged since Tesla endorsement

Watch: Bitcoin hit another record, surging well above $48,000 on new support from the financial industry.(Source: Bloomberg)

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By Olivia Raimonde and Eric Lam (News)

February 11, 2021 at 4:40 AM UTC

Updated on

February 11, 2021 at 8:40 PM UTC

This article is for subscribers only.

Bitcoin jumped to a record high after Mastercard Inc. and Bank of New York Mellon Corp. moved to make it easier for customers to use cryptocurrencies.

The largest digital asset rose as much as 8.1% to $48,663, surpassing the all-time high reached Monday after Tesla Inc. announced it would hold $1.5 billion of the cryptocurrency on its balance sheet. The wider Bloomberg Galaxy Crypto Index also touched a record.