Cost of a single Bitcoin exceeds $50,000 for first time

MATT OTT
The Bitcoin logo appears on the display screen of a crypto currency ATM at the Smoker's Choice store, Tuesday, Feb. 9, 2021, in Salem, N.H. After a wild week in which Bitcoin soared to new heights, Bitcoin is crossing the $50,000 mark. Bitcoin rallied last week as more companies signaled the volatile digital currency could eventually gain widespread acceptance as a means of payment for goods and services. (AP Photo/Charles Krupa)

Bitcoin is rallying as more companies signal the digital currency could eventually gain widespread acceptance as a means of payment. The vast majority of those who have acquired Bitcoin have treated it as a commodity, like gold, with few places accepting it in exchange for goods or services. Companies have been leery because of Bitcoin's volatility and its use by parties who want to avoid the traditional banking system for a myriad of reasons.