Bitcoin 2-year High

Cryptocurrency bitcoin hit a two-year high above $57,000 in Asia trade on Tuesday on signs of heavy institutional buying, while smaller rival ether topped $3,200 for the first time in two years.

The price of the web-based digital currency bitcoin soared to its highest level in almost two years on Tuesday, rising to more than $500 per unit, as worries about a further weakening of the yuan drove increased demand from China.

Cryptocurrency bitcoin hit a two-year high above $57,000 in Asia trade on Tuesday on signs of heavy institutional buying, while smaller rival ether topped $3,200 for the first time in two years.

The price of the web-based digital currency bitcoin soared to its highest level in almost two years on Tuesday, rising to more than $500 per unit, as worries about a further weakening of the yuan drove increased demand from China.