12 Aug '17, 8pm

Bitcoin vaults to new record above $4K, boosted by Japan and multiplying its value fourfold

The digital currency bitcoin vaulted to a new record high above $4000 on Saturday, boosted by strong Japanese demand on its way to multiplying its value fourfold this year. Bitcoin traded as high as $4,000.93, more than 7 percent higher near $3,941 in Saturday dealings, according to CoinDesk. The digital currency has now quadrupled in 2017, and is up about 40 percent in August alone. Bitcoin's market value is now around $64 billion, up about $10 billion in the last week. Bitcoin trade in Japanese yen accounted for nearly 46 percent of global trade volume, up from about a third a day ago, according to CryptoCompare. US-dollar bitcoin trade accounted for about 25 percent, according to CryptoCompare. Bitcoin trade in Chinese yuan and South Korean won accounted for about 12 percent each. Bitcoin rose in the last week, mirroring gold's climb amid a global selloff in stocks and ...

Full article: https://www.cnbc.com/2017/08/12/bitcoin-vaults-to-new-rec...

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Why does Bitcoin have value?

Why does Bitcoin have value?

thefinance.sg 11 Aug '17, 10am

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bbc.co.uk 07 Aug '17, 11am

Image copyright Getty Images Image caption Bitcoin had never been worth above $3,000 (£2,300) per token until the weekend ...