Bitcoin Surges Past $60,000

Cryptocurrency Bitcoin has risen for the first time above $60,000 (£43,100), continuing its record-breaking run.

Bitcoin – which has more than tripled in value since the end of last year – has been powered on by well-known companies adopting it as a method of payment.

But some analysts said this latest surge came in part due to the huge US stimulus package approved this week.

Bitcoin’s total market value last month exceeded $1tn.

However, Bitcoin has a track record of wild price swings and has fallen sharply a number of times since it was created in 2009.