03 Apr '13, 7pm

Bitcoin currency value reaches record high of $147 before plunging down

The value of individual Bitcoins has hit a record high of almost $147 as interest in the cryptographic currency, which has no central issuing bank, has exploded. Though the value fell back later on Wednesday to $117, the value of all Bitcoins in circulation is approaching $1.4bn. Both the volume being traded and the amounts being paid have suddenly risen, apparently as interest in the system has been spiked by the banking crisis in Cyprus – which had the spillover effect of making people in some southern European countries worry that their banking deposits might not be safe. Some are thought to have converted that money into Bitcoins, driving a rapid rise in the apparent value of the "coins" – actually cryptographic solutions to complex equations. As a result, the value of a Bitcoin has risen from just $13.50 in January, and around $30 a month ago, to more than $140 – thou...

Full article: http://www.guardian.co.uk/technology/2013/apr/03/bitcoin-...

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Bitcoin currency value reaches record high of $...

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