Bitcoin hit a new all time high on Monday morning after electric car maker Tesla revealed that it has stockpiled more than $1.5 billion US worth of the cryptocurrency, and will soon start accepting it as a form of payment for its products. That lit a fire under bitcoin's price, which jumped about nine per cent to more than $43,000 US. The price of the cryptocurrency has risen by 50 per cent this year, on the heels of a 300 per cent spike in 2020. Dennis Mitchell, CEO of Toronto-based money manager Starlight Capital, says his company doesn't hold bitcoin in any of its funds, but he does say he expects the volatility to continue. Digital currencies news site CoinDesk said it was experiencing difficulties but has so far managed to keep up normal operations.

Source: CBC News February 08, 2021 13:18 UTC