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Bitcoin hits $60k record high as cryptocurrency’s rally continues

The cryptocurrency climbed more than five percent on Saturday, reaching $60,200 on Binance, the largest cryptocurrency exchange in terms of trading volume. 

The price surge comes as the US begins distributing checks as part of a massive $1.9 trillion stimulus package. Analysts and investors have speculated that many Americans may use the cash to invest in bitcoin. 

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On Tuesday, the market value of bitcoin surpassed $1 trillion for the second time in history.  

Bitcoin has been trending upwards following a market correction that sent its price spiraling downwards at the end of February.

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