News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

News

Bitcoin jumps to record high after BNY Mellon signals plans for cryptocurrency unit

Move makes BNY the first global bank to offer a service for digital assets

Bitcoin’s price passed $48,000 for the first time this week after Tesla said it had invested $1.5bn in the cryptocurrency
Bitcoin’s price passed $48,000 for the first time this week after Tesla said it had invested $1.5bn in the cryptocurrency Photo: Getty Images

The price of bitcoin surged to a record high of nearly $49,000 after BNY Mellon said it plans to launch a new unit focusing on digital assets such as cryptocurrencies.

Bitcoin hit an all-time high of $48,925, before receding to $47,475 at 8am GMT, according to crypto website Coindesk.

WSJ Logo