MOSCOW, Feb. 16 — The price of the Bitcoin cryptocurrency reached a new record high on Tuesday morning, approaching US$50,000, reported Sputnik news agency.

According to the CoinMarketCap portal, Bitcoin’s value went up 5.43 per cent to US$49,605 at 04:22 GMT on Tuesday. Meanwhile Binance data showed that Bitcoin reached an all-time high of US$49,998.

On Sunday, Bitcoin’s price went over US$49,700 according to data from industry website CoinDesk.