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Bitcoin rallies to new record, market cap hits $50 billion for first time

Bloomberg News

Bitcoin passed $3,200 for the first time this weekend.

Bitcoin surged above $3,000 to reach a new all-time high over the weekend, less than a week after a split that worried some investors. Bitcoin BTCUSD, +0.34%   peaked Saturday at a record $3,360.87, according to CoinDesk.com. By Sunday, the cryptocurrency had settled down to $3,286.87, with a market cap of $53.4 billion, according to Coinmarketcap.com. Saturday marked the first time bitcoin surpassed $50 billion in market cap.

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