Bitcoin price soars above $9 for the first time in almost a year

#Bitcoin price soars above $9 for the first time in almost a year - Wait for the hedge funds to get in #futureofmoney

The price of Bitcoins surged this week, rising above $9 for the first time in almost a year. The increase suggests growing public interest in the peer-to-peer cryptocurrency. Last month, we marked the one-year anniversary of the Bitcoin bubble popping. We noted that after plunging for the last six months of 2011, the price of Bitcoin had begun to stabilize around $5. But almost as soon as we published that article, the currency began appreciating rapidly. Today, one Bitcoin is worth about $9.20—a 40 percent increase in a month. Enlarge / Bitcoin price over the last four months. bitcoincharts.com The transaction volume of Bitcoins has increased dramatically since April. In April, there were rarely more than 10,000 transactions in a day. In July, there have consistently been more than 20,000 transactions each day. What explains the newfound popularity of the cryptocurrency? ...

Full article: http://arstechnica.com/tech-policy/2012/07/bitcoin-price-...