Bitcoin extended gains in Asia on Tuesday

Cryptocurrencies extended gains in Asia on Tuesday, with bitcoin and ethereum reaching record highs, in the wake of a Tesla Inc investment in bitcoin.

Bitcoin posted its largest daily percentage gain in more than three years overnight, after Tesla made the announcement in its 2020 annual report, reports Reuters.

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Bitcoin added as much as 2.5% to hit a record high of $47,565.86 on Tuesday and has gained 61% for the year so far. Ethereum hit a record of $1,784.

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