Bitcoin has held steady over the weekend at around $60,000, after climbing all week.
The cryptocurrency is up over 22% in the past seven days and is nearly double where it was in early January, when it made headlines for hitting around $30,000.
Now, as more and more major financial players and investors view bitcoin’s legitimacy as certain, some experts have even said it could eventually reach $100,000 but will go up and down along the way like wild roller coaster.
Among those embracing the currecnt? JPMorgan (JPM) – Get Report has recently unveiled an investment product with indirect exposure to bitcoin and other cryptocurrencies, while names like PayPal (PYPL) – Get Report and Visa (V) – Get Report earlier began offering crypto services. Tech giant Nvidia (NVDA) – Get Report has even created a new chip especially for use in cryptocurrency.
Meanwhile, a many retailers are now allowing customers to pay with the volatile tokens.
And bitcoin is not the only cryptocurrency climbing, either.
As of Sunday late afternoon ET, Etherium was at $1,874, a nearly 13% rise over the past seven days, according to Coin Gecko. Binance Coin was up more than 18% the same time period to $268.65 and Polkadot was up more than 10% at $37. Uniswap, meanwhile, rose just over 10% for the week, hitting $31.36 on Sunday. All five cryptos saw slight declines from Saturday to Sunday.
Tether remained at its target of a buck. Unlike the other cryptocurrencies, Tether — the largest “stable coin” in circulation — is centrally managed and pegged to the dollar.