STORY: Bitcoin hit a two-year high on Tuesday (February 27).
It rose to more than $57,000 on signs of large players buying the cryptocurrency.
Bitcoin has rallied over a tenth in two sessions.
Investors were alerted by Monday’s disclosure from leading crypto investor MicroStrategy it had bought 3,000 bitcoins – spending $155 million to do so.
The largest cryptocurrency by market value has also seen further excitement recently.
Buyers were drawn to it after U.S. regulators approved bitcoin-owning exchange-traded funds, or ETFs.
Smaller rival ether is also on the up, topping $3,200 for the fist time in two years on Tuesday.
Another big draw right now is the bitcoin halving event in April.
This process is designed to slow the release of bitcoin, by cutting the reward for producing the tokens in half.
The cryptocurrency has gained around 32% in value so far this month, and attracted big hitters.
Social media site Reddit said it had invested a small portion of its excess cash reserves in both bitcoin and ether.
This article was originally published by a finance.yahoo.com . Read the Original article here. .