Bitcoin gains extends above $47,000

In the wake of Tesla’s investment in Bitcoin, cryptocurrencies extended gains in Asia on Tuesday, with bitcoin and ethereum reaching record highs.

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

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.