Bitcoin has surpassed the US$1,000 mark for the first time in three years.
The high water mark was breached Monday trading at US$1,019 at the time of publication.
It follows a steady increase in the value of the crypto currency in recent months buoyed by China’s devaluation of the yuan, the removal of high valuation bank notes in India in November, and increasing interest in the digital coin.
Most Bitcoin trading occurs in China with huge farms both high tech and low and dirty mining to gain new and increasingly more difficult to extract bitcoins.
A significant boost to the currency’s value also coincided with Donald Trump claiming the November US election.
Happy New Year! Bitcoin hits 1000 USD price on the first day of new year. #bitcoin1000 pic.twitter.com/ZvyDNnfLh0
— Martin (@econexpert) January 1, 2017
Bitcoin has not tipped the $US1,000 mark since 2013 when it hit $US1,100 prior to the hacking of mega bitcoin exchange Mt Gox.
Other crypto currencies have risen in the wake of Bitcoin including Ethereum, Ripple, and Litecoin.
Customer Identity and Access Management
TheBitcoinNews.com – Bitcoin News source since June 2011 –
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest.
Everything on this website can be seen as Advertisment and most comes from Press Releases, TheBitcoinNews.com is is not responsible for any of the content of or from external sites and feeds. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.
Advertise with us : Advertise
Our Social Networks: Facebook Instagram Pinterest Reddit Telegram Twitter Youtube