22 Oct '13, 11am

After Silk Road Closure, And With Baidu's Blessing, Bitcoin Breaks $200 Again

The value of a single Bitcoin has broken the $200 mark for only the second time. The cost of a single Bitcoin hit a high of more than $205 earlier today on the biggest Bitcoin exchange, Mt. Gox, although it’s since dipped slightly. At the time of writing it’s still trading at above $200. Bitcoin, or BTC, is a decentralised digital cryptocurrency that offers an alternative, peer-to-peer payment method that circumvents costly bank fees if you’re making payments across international borders. The price of a single Bitcoin traded on Mt. Gox has been tracking up for the past two weeks, gaining close to $70 in value over this period at the peak: The price of one bitcoin previously peaked at around $265 back in April, as hype around the currency increased and there was a rush to open new accounts. That Bitcoin goldrush caused Mt.Gox to struggle with the influx, and BTC traders to ...

Full article: http://techcrunch.com/2013/10/22/bitcoin-breaks-200-again/

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