Bitcoin rises 8.5 percent to $36,265

Bitcoin surged 8.54 % to $36,265 on Wednesday, adding $2,853.31 to its previous close.

Bitcoin, the world`s biggest and best-known cryptocurrency, is up 30.8% from the year`s low of $27,734 on Jan. 4.

Ether, the coin linked to the ethereum blockchain network, rose 2.29 % to $2,566.4 on Wednesday, adding $57.55 to its previous close.

El Salvador became the first country in the world to adopt bitcoin as legal tender after Congress on Wednesday approved President Nayib Bukele`s proposal to embrace the cryptocurrency, a move that delighted the currency`s supporters.

With 62 out of 84 possible votes, lawmakers voted in favor of the move to create a law to adopt bitcoin, despite concern about the potential impact on El Salvador`s program with the International Monetary Fund.