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Bitcoin, after taking a brief breather in its 2021 bull run, has suddenly shot higher.

The bitcoin price climbed past the closely-watched $50,000 per bitcoin level for the first time late on Monday evening, hitting on the San Francisco based exchange Coinbase.

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Bitcoin’s surge higher, adding 30% over the last week and taking its year-on-year gains to over 400%, comes after reports an investment unit under Morgan Stanley

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is exploring a stake in bitcoin–the latest Wall Street banking giant to soften its stance on cryptocurrency.

Over the last week, “bitcoin saw inflows of $367 million as the trend of announcements by large corporations and funds using bitcoin as a treasury asset and investment continues,” James Butterfill, investment strategist at CoinShares, wrote in his latest market report.



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