Bitcoin reached another record, coming ever closer to US$50,000, as the world’s largest cryptocurrency extends its breathtaking rally.

The token climbed as much as 3.6% to US$49,913 in Asian trading Feb 16, according to a composite of prices compiled by Bloomberg. Prices fell back later in the session and were last trading around US$49,000.

Bitcoin’s volatile, five-fold advance over the past year towers above the returns from more traditional investments like stocks, gold and commodities.

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