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Bitcoin rises 7.1% to $55,163

Illustration of Bitcoin

(Reuters) - Bitcoin rose 7.11% to $55,162.92 at 20:01 GMT on Wednesday, adding $3,661.73 to its previous close.

Bitcoin, the world's biggest and best-known cryptocurrency, is up 98.9% from the year's low of $27,734 on Jan. 4.

Ether, the coin linked to the ethereum blockchain network, rose 2.15% to $3,591.72 on Wednesday, adding $75.63 to its previous close.

(Reporting by Mrinmay Dey in Bengaluru)

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