Bitcoin surges to a 2020 high on PayPal’s embrace

Bitcoin broke the $13,000 mark on Wednesday, hitting its highest price since June 2019. The latest surge has come as part of a bull run driven in part by votes of confidence from some of the country’s biggest financial companies.

On Wednesday morning, PayPal announced it would let users buy a handful of cryptocurrencies, including Ethereum and Bitcoin, causing the price of the latter to rise close to $13,200. On Thursday morning, Bitcoin was trading closer to $12,800—still a high for the year.