Bitcoin rises 2.1% to reclaim US$50 000
Bitcoin rises 2.1% to reclaim US$50 000

Bitcoin rises 2.1% to reclaim US$50 000

Jo-Mare Duddy Booysen
Bitcoin rose on Sunday to reclaim levels above US$50 000.

The world's biggest and best-known cryptocurrency gained 2.11% to US$50 445.34 at 1803 GMT on Sunday, adding US$1 044.80 to its previous close. Bitcoin is up 81.9% from the year's low of $27,734 on Jan. 4.

Ether, the coin linked to the ethereum blockchain network, rose 0.26% to US$4 100 on Sunday, adding US$10.78 to its previous close.

90% of all bitcoins have been mined as of yesterday morning, according to data from blockchain tracker Blockchain.com. The feat means 18.89 million bitcoins — of a maximum of 21 million — are now on the open market, according to coindesk.com.

Reaching the milestone took nearly 12 years since the first bitcoins were mined on Jan. 9, 2009. However, the remaining supply is not expected to be mined till February 2140, based on network activity estimates and Bitcoin’s halving schedules. - Reuters

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