03 Nov '17, 4am

Bitcoin passes $7,000 for the first time

(Reuters ) — Digital currency bitcoin took another leap higher on Thursday, rocketing above $7,000 for the first time after a more than tenfold increase in its value over the past year. Bitcoin has seen eye-watering gains in recent months, having more than doubled in value in the past seven weeks alone. It is on track for a fifth consecutive quarter of increases — a run not seen since 2012-2013, when it was approaching $100 for the first time. It hit as high as $7,354.10 on the Luxembourg-based Bitstamp exchange on Thursday BTC=BTSP, before settling back to $7,030 by 1630 GMT, still up over 4 percent on the day. Credit Suisse Chief Executive Tidjane Thiam expressed caution about the booming cryptocurrency, saying the current interest in it could eventually subside. “From what we can identify, the only reason today to buy or sell bitcoin is to make money, which is the very ...

Full article: https://venturebeat.com/2017/11/02/bitcoin-passes-7000-fo...

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Bitcoin price hits $7,000 for the first time

Bitcoin price hits $7,000 for the first time

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