Bitcoin was trading 2.53% higher on Wednesday morning, shattering the $47,000 mark.
The price was around $47,120 per coin, while rivals Ethereum and Dogecoin were trading around $3,400 (+1.79%) and 24.2 cents (+1.46%) per coin, respectively, according to Coindesk.
Since last week – when Bitcoin traded at $43,000 per coin, it has steadily risen to break $47,000 early Wednesday.
In bitcoin news Tuesday, Miami’s city commission on Monday voted in favor of accessing about $5 million worth of MiamiCoin, a Miami-specific cryptocurrency — and counting.
For every MiamiCoin that people mine (or create) using a base cryptocurrency called Stacks, which has its own token, Miami gets funding that elected leaders can use to improve quality of life for city residents.
MiamiCoin the first CityCoin, a city-based token with plans to expand to other cities besides Miami, though CityCoin does not have a partnership with Miami. Instead, the cryptocurrency is completely community-sourced and community-driven.
In other bitcoin news, Billionaire Steven A. Cohen, owner of Major League Baseball’s New York Mets, is set to invest in a new cryptocurrency trading firm, the latest bet on the digital-asset markets by a prominent Wall Street investor.
The hedge-fund manager agreed to make an initial investment in Radkl, a quantitative-trading firm specializing in digital assets, according to the firm’s executives and a Cohen spokeswoman.