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| Bitcoin sets new record breaking through $13,000 barrier | Bitcoin sets new record breaking through $13,000 barrier |
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| The price of bitcoin has surged to a new all-time high of $13,200 on Wednesday. The world’s first cryptocurrency has nearly doubled in price over the past month. | |
| Bitcoin has set several records in recent days. Last week, the digital currency hit both the $10,000 and $11,000 levels for the first time, crossing over $12,000 on Tuesday. | Bitcoin has set several records in recent days. Last week, the digital currency hit both the $10,000 and $11,000 levels for the first time, crossing over $12,000 on Tuesday. |
| The dramatic surge has pushed the market cap of bitcoin to nearly $219 billion, according to industry website CoinMarketCap. The combined value of all the bitcoins in circulation has already exceeded the annual output of entire economies such as Portugal and Qatar. | |
| Bitcoin’s unstoppable rise comes as UK money transfer application Revolut, announced plans to let its customers buy and sell cryptocurrencies, including bitcoin, ethereum, and litecoin. The firm is currently applying for a European banking license that will make it the first bank in Europe to allow cryptocurrency purchases. | |
| Meanwhile, top exchanges in the US like the CME and CBOE have announced plans to introduce futures contracts. The measure, which is expected to bring bitcoin to the world of ‘grown-up’ finance, has triggered the recent bull run. | |
| The rapidly surging virtual currency made its debut in 2008, traveling the path from no value to a fraction of a penny by March 2010. Bitcoin’s rise in value in 2017 is unprecedented with the token worth just $1,000 on January 1 to more than $13,000 today. By 11:00 GMT on Wednesday the cryptocurrency was valued at $13,200. |