Bitcoin, after taking a week-long breather in its blistering 2021 bull run, has suddenly shot higher.

The bitcoin price briefly climbed past the closely-watched $50,000 per bitcoin level for the first time late on Monday evening, hitting $50,110 on the San Francisco-based exchange Coinbase and $50,240 on the Singapore-based crypto derivatives exchange Bybit before falling back.

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Bitcoin’s surge higher, adding 30% over the last month and taking its year-on-year gains to around 400%, comes after reports an investment unit under Morgan Stanley MS is exploring a stake in bitcoin–the latest Wall Street banking giant to soften