Bitcoin Hits New All-Time High as BNY Mellon Announces Crypto Custody

Bitcoin set a new record highs on Thursday after BNY Mellon, America’s oldest bank, announced crypto custody for institutional clients.

The cryptocurrency set a new high of $48,297 during the U.S. trading hours, surpassing the previous peak price of $48,226 registered on Tuesday, according to CoinDesk 20 data.

Buyers stepped in around $46,700 after BNY Mellon said it will hold, transfer and issue bitcoin and other cryptocurrencies on behalf of its asset-management clients.

“Bitcoin is loving the BNY Mellon news. It’s a very big deal,” trader and analyst Alex Kruger tweeted.

A wave of institutional adoption has hit the bitcoin market this week, pushing prices higher by 22%.

On Monday, the U.S. electric car maker Tesla, a Fortune 500 company, announced bitcoin purchases worth $1.5 billion, bolstering the cryptocurrency’s appeal as a reserve asset. Payments giant Mastercard said early Thursday that it is planning to allow merchants to accept crypto payments.

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  • dogecoinDogecoin(DOGE)$0.0631641.33%
  • tronTRON(TRX)$0.0774861.09%
  • polkadotPolkadot(DOT)$4.501.99%
  • litecoinLitecoin(LTC)$65.301.07%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$26,065.000.00%
  • bitcoin-cashBitcoin Cash(BCH)$189.59-0.41%
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  • havvenSynthetix Network(SNX)$2.06-0.07%
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  • eosEOS(EOS)$0.581.13%
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  • bitcoin-cash-svBitcoin SV(BSV)$29.94-1.07%
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