Bitcoin hits $50,000 as Elon Musk’s tweet sends Shiba Inu soaring

Meme token Shiba Inu surged 51% after Tesla CEO Elon Musk, a crypto proponent, tweeted a photo of his puppy, which is the same breed the token is named after. Photo: Getty

Cryptocurrencies were broadly higher on Tuesday afternoon as bitcoin crossed a key level of $50,000 (£36,702) for the first time in four weeks.

Bitcoin (BTC-USD) was up 5.4%, trading at $50,120. Ethereum (ETH-USD), the second biggest crypto by market cap, was up 3.3% to trade at at $3,445.

“The big factor for the bitcoin…


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