Bitcoin (BTC) price jumps after El Salvador adopted it as legal tender
Other cryptocurrencies rose as well, and both Ether and XRP were trading higher.
Bitcoin is still a long way from its all-time high of $ 64,829.14 reached in April.
Bitcoin is known for wild price fluctuations who have prompted critics to suggest that it is not suitable to be an efficient currency. The El Salvador case will be closely watched to see how bitcoin might work as a nationwide payment mechanism.