30 Mar '13, 9pm

Total value of Bitcoin surpasses $1B

Total value of Bitcoin surpasses $1B

The total value of the P2P currency, Bitcoin, has surpassed $1 billion. On Thursday, the exchange rate for the currency surpassed $92, and there is nearly 11 million Bitcoins currently in circulation. It was only earlier this month that the value of a Bitcoin was worth $49 . The currency continued to rapidly rise in value, much to the surprise of both Bitcoin users as well as analysts. Daiy Bitcoin transactions used to total about 200,000 Bitcoins a day, however now that number has increased about 50%. The growing use of Bitcoins can be attributed to more services utilizing Bitcoins as a payment currency, like WordPress, Mega , and Reddit. BitPay, one of the most popular Bitcoin payment processors, reported that in March alone, they processed $2 million worth of Bitcoin transactions, which accounts for 66% of all the transactions it managed in 2012. One of the major driver...

Full article: http://www.slashgear.com/total-value-of-bitcoin-surpasses...

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Total Bitcoin value passes $1 billion

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