Bitcoin price on Thursday increased 5.23 percent to $43,716.97 as of 22:08 GMT, adding $2,174.07 to its previous close.

The world's biggest and best-known cryptocurrency has appreciated 57.6 percent from the year's low of $27,734 on Jan. 4.

Ether, the coin linked to the ethereum blockchain network, rose 5.26 percent to $3,001.48, adding $150.08 to its previous close.

Professor Eswar Prasad of Cornell University, in an interview to CNBC-TV18, on September 27, said he believed that the underlying notion that Bitcoin is scarce and thus has value is false. He had also warned that Bitcoin may not end well especially for the naïve retail investors.

-With agency inputs

First Published:Oct 1, 2021 6:40 AM IST