Bitcoin hit $ 50,000 for the first time since El Salvador adopted it as legal tender in early September.

Previously, it fell 3.2% to $ 46.933, but now it was up 1.6% to $ 49.240.

BTC fell 17% on September 7, after El Salvador's Bitcoin experiment, which was the largest test of the real usefulness of Bitcoin. There was instability back then because of technical glitches in the official digital wallet.

Then, on Monday, Citadel founder Ken Griffin criticized the cryptocurrency over the amount of time and energy spent on it. He said his company would trade the asset only if it is strictly regulated. He then praised SEC chairman Gary Gensler for taking a closer look at cryptocurrencies.

"I would like all this passion and energy invested in cryptocurrency to be directed towards strengthening the United States. What a crazy idea it is that we, as a country, are bringing in so many bright, young, talented people to come up with a replacement for our reserve currency, " Griffin said.

Griffin has long been a crypto skeptic, and in 2018 he questioned the value of cryptocurrencies, expressing regret that younger investors are attracted to digital coins rather than stocks of companies that drive economic growth.

Griffin also raised a number of issues, including rising tensions between the US and China, the threat of runaway inflation and controversial trade practices known as order flow payments, which have come under close scrutiny by regulators and legislators.