New York (CNN Business) Bitcoin prices continue to skyrocket. Bitcoin prices have more than doubled so far this year, up 107% from the December 31 closing price of $28,987.60. Investors are excited that Elon Musk'ssaid in February it owns $1.5 billion worth of bitcoin on its balance sheet. After all, there are now multiple Covid-19 vaccines and more people are returning to work, which should boost the economy -- and bitcoin prices. Bitcoin has benefited from investors' recognition that the cryptocurrency is scarcer than gold or other precious metals.

Source: CNN March 13, 2021 17:03 UTC