<p>Bitcoin hovered close to record highs on Friday, set for gains of over 20% in a milestone week marked by the endorsement of major firms such as Elon Musk's Tesla, while the dollar pared losses that were incurred after weak US jobs data.</p>.<p>The world's most popular cryptocurrency traded about 0.5% down at $47,728, just south of a record high of $49,000 reached after US banking group BNY Mellon said it had formed a unit to help clients hold, transfer, and issue digital assets.</p>.<p>Tesla revealed on Monday it had bought $1.5 billion worth of the cryptocurrency and BlackRock, the world's largest asset manager, added bitcoin as an eligible investment to two funds.</p>.<p>Credit card giant Mastercard's plans to offer support for some cryptocurrencies also boosted bitcoin's ambitions towards mainstream finance, but many banks are reluctant to engage with it.</p>.<p>"We do not cover other speculative objects such as vintage cars, works of art or expensive watches", Commerzbank Research said in a note on why it would not comment on the bitcoin exchange rate that some analysts say could test $50,000 soon.</p>.<p>"There is clearly some nervousness around this level", Oanda analyst Craig Erlam told his clients, citing fears that a correction could hit soon after the $50,000 landmark is reached.</p>.<p>Elsewhere the dollar index ticked up 0.26% at 90.644 after subdued volumes in Asia due to the Lunar New Year. It was, however, on track to fall 0.5% for the week - its first losing week in three - in what ING analysts described as a "consolidative mood" amid uncertainty about the pace of the US economic recovery. Weaker-than-expected weekly</p>.<p>US jobless claims data on Thursday added to concerns the dollar's previous rally had priced in too fast a rebound for the US economy. The dollar was up 0.3% against the yen at 105.03.</p>.<p>There has been a divergence in views among traders this year over how US President Joe Biden's planned $1.9 trillion fiscal stimulus package will affect the dollar.</p>.<p>Some see it as bolstering the currency as it should speed a US recovery relative to other countries, while others reckoned it would feed a global reflation narrative that should lift riskier assets at the dollar's expense.</p>.<p>The euro slipped 0.25% to $1.2102 and briefly crossed below the $1.21 line but was headed to a 0.4% weekly advance. The British pound slipped below $1.38 against the dollar but was steady against the euro after data showed Britain's economy suffered a record slump in 2020, but grew in the final quarter.</p>.<p>Norway's crown strengthened slightly and pared some losses against the euro after data showed the country's economy contracted by 2.5% last year, a decline less severe than in most other European nations. It traded last at 10.2980, broadly flat against the euro on the day.</p>
<p>Bitcoin hovered close to record highs on Friday, set for gains of over 20% in a milestone week marked by the endorsement of major firms such as Elon Musk's Tesla, while the dollar pared losses that were incurred after weak US jobs data.</p>.<p>The world's most popular cryptocurrency traded about 0.5% down at $47,728, just south of a record high of $49,000 reached after US banking group BNY Mellon said it had formed a unit to help clients hold, transfer, and issue digital assets.</p>.<p>Tesla revealed on Monday it had bought $1.5 billion worth of the cryptocurrency and BlackRock, the world's largest asset manager, added bitcoin as an eligible investment to two funds.</p>.<p>Credit card giant Mastercard's plans to offer support for some cryptocurrencies also boosted bitcoin's ambitions towards mainstream finance, but many banks are reluctant to engage with it.</p>.<p>"We do not cover other speculative objects such as vintage cars, works of art or expensive watches", Commerzbank Research said in a note on why it would not comment on the bitcoin exchange rate that some analysts say could test $50,000 soon.</p>.<p>"There is clearly some nervousness around this level", Oanda analyst Craig Erlam told his clients, citing fears that a correction could hit soon after the $50,000 landmark is reached.</p>.<p>Elsewhere the dollar index ticked up 0.26% at 90.644 after subdued volumes in Asia due to the Lunar New Year. It was, however, on track to fall 0.5% for the week - its first losing week in three - in what ING analysts described as a "consolidative mood" amid uncertainty about the pace of the US economic recovery. Weaker-than-expected weekly</p>.<p>US jobless claims data on Thursday added to concerns the dollar's previous rally had priced in too fast a rebound for the US economy. The dollar was up 0.3% against the yen at 105.03.</p>.<p>There has been a divergence in views among traders this year over how US President Joe Biden's planned $1.9 trillion fiscal stimulus package will affect the dollar.</p>.<p>Some see it as bolstering the currency as it should speed a US recovery relative to other countries, while others reckoned it would feed a global reflation narrative that should lift riskier assets at the dollar's expense.</p>.<p>The euro slipped 0.25% to $1.2102 and briefly crossed below the $1.21 line but was headed to a 0.4% weekly advance. The British pound slipped below $1.38 against the dollar but was steady against the euro after data showed Britain's economy suffered a record slump in 2020, but grew in the final quarter.</p>.<p>Norway's crown strengthened slightly and pared some losses against the euro after data showed the country's economy contracted by 2.5% last year, a decline less severe than in most other European nations. It traded last at 10.2980, broadly flat against the euro on the day.</p>