Bitcoin moved to within touching distance of its all-time high on Thursday with the recent rally in prices also supporting a rise in alternative cryptocurrencies.
The largest digital currency by market cap (currently around $17.5 billion) was trading around $1,1090 at the time of publication, not far off the record high of $1,165.89 set on November 30, 2013, according to CoinDesk data. Bitcoin did trade as high as $1,153.02 earlier in the day before paring some gains in what has been a volatile day of trade.
“A lot has happened in the time between the all-time high in 2013 and now. The industry has grown a lot and become stronger, through innovation, and endurance. Additionally, the adoption and popularity of Bitcoin are much higher than they were back then. More and more people are beginning to recognize the benefits and value of the currency,” said Marco Streng, CEO of Genesis Mining, a bitcoin mining start-up.