02 Jan '17, 6pm

Surging Bitcoin breaks through $1,000 barrier

Surging Bitcoin breaks through $1,000 barrier

The value of Bitcoin surged above $1,000 on Monday as the digital unit continues a dizzying rise that made it the best-performing currency of 2016. Its value has more than doubled in the last year and it was trading at around $1,024 in afternoon European trading on Monday, after breaking through the $1,000 mark on Sunday. It is now within reach of its historic high of more than $1,200 reached in 2013. Some analysts believe the rise in Bitcoin is due to some investors treating it as a safe-haven, like gold, at a time of global uncertainty. Others believe buying is being driven by speculative demand, with investors anticipating future rises and creating an unsustainable bubble. Bitcoin was launched in 2009 as a bit of encrypted software written by someone using the Japanese-sounding name Satoshi Nakamoto. Earlier this year secretive Australian entrepreneur Craig Wright said ...

Full article: http://www.vanguardngr.com/2017/01/surging-bitcoin-breaks...

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