Bitcoin price tops $50K in September push

CHINA – 2021/05/20: In this photo illustration a Bitcoin is seen on display with a Bitcoin price trend chart in the background. (Photo Illustration by Sheldon Cooper/SOPA Images/LightRocket via Getty Images)

Bitcoin is hitting September at a good clip. 

The largest cryptocurrency by market value rose above the $50,000 level Friday for only the fourth time in the last four months. Bitcoin is at the highest intraday level since Aug. 23, 2021, when it hit $50,477.86.

The move comes even as skeptics denounce its future. Earlier this week, billionaire hedge fund manager John Paulsen told “Bloomberg Wealth with David Rubenstein” that he wouldn’t recommend the investment to anyone. He said there is a cryptocurrency bubble that will “eventually prove to be worthless.”

TRUMP WARNS CRYPTO ‘POTENTIALLY A DISASTER WAITING TO HAPPEN’

Ticker Security Last Change Change %
BITQ EXCHANGE TRADED CONCEPTS TRUST BITWISE CRYPTO INNOVATORS E 27.69 +0.99 +3.71%

Other popular cryptocurrencies, such as Ethereum and Cardano, are also up big in the first days of September. 

Ethereum, like Bitcoin, hit its highest price since May on Friday morning, reaching $3981.53 per Ether. 

CLICK HERE TO READ MORE ON FOX BUSINESS

Cardano, the third-largest cryptocurrency by market cap, reached an all-time high of $3.10 per ADA on Sep. 2 and has since been hovering around $3.