Bitcoin surges through key $50,000 level in European trading

Cryptocurrency value up 75% since start of year spurred by prominent business people

Bitcoin soared through the key $50,000 level on Tuesday for the first time as the growing acceptance of the world's biggest cryptocurrency among large banks and investment funds continued to draw in mainstream investors.

After a meteoric rise in which its value increased by 75% since the start of the year, the currency hit $50,547.70 (36,320) per coin in European trading at around 12.35 GMT.