Bitcoin has continued its rally and reached a new record high of over $52,300 on Wednesday.
The latest surge comes amid reports that American crypto exchange Coinbase handled Tesla’s purchase of $1.5 billion worth of Bitcoin. Allegedly, Coinbase was able to perform the purchase without affecting the market routing the order to several over-the-counter trading desks.
Several media outlets also reported that Coinbase has at least five Fortune 500 companies among its corporate clientele and is looking into going public sometime this year.
Earlier Tesla, invested $1.5 billion in Bitcoin explaining that would help “diversify and maximize returns on cash that is not required to maintain adequate operating liquidity”.
Bitcoin has gained 45% over the last month and is up more than 400% over the last year.
