22 Feb '13, 6pm

Bitcoin is trading at a record high

Bitcoin is trading at a record high

Bitcoin is trading at a record high By Zachary M. Seward — February 22, 2013 Bitcoin is back. The digital currency—which, unlike the cash in your wallet, is not issued by a central bank—has surged this year on bitcoin exchanges, hitting a new high today above $31 . Bitcoin hasn’t traded at this level since June 2011, which is an ominous observation since that peak was followed by the currency’s collapse , precipitated by an enormous sell order from a hacked account. But it recovered throughout 2012 and has begun to seem more more like a legitimate alternative to currencies issued by sovereign nations. Traders at large investment banks, including Morgan Stanley and Goldman Sachs, are said to be active on bitcoin exchanges. The sudden surge in bitcoin’s value could be mere speculation by investors. It could also represent renewed confidence in bitcoin’s worth, following the ...

Full article: http://qz.com/56029/bitcoin-is-trading-at-a-record-high/

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