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Bitcoin trades above $23,000 as cryptos surge

Yahoo Finance's Brian Cheung reports on how cryptocurrencies are trading.

Video transcript

BRIAN CHEUNG: Bitcoin is up about 4 and 1/2% to 23,500. You actually recall that on a two-day basis, it had dipped below 23,000 yesterday after Tesla reported that it had converted about 75% of its Bitcoin into Fiat. Now, of course, on a five-day basis since we are headed into the weekend, it has been a good week for Bitcoin, up about 13% over the five-day period. Also watching this morning Ethereum, up almost 7% today.

AKIKO FUJITA: OK, green arrows. Starting to look a little bit like a bounce-back.

BRIAN CHEUNG: They'll take what they can get, right?

AKIKO FUJITA: Yeah, exactly.