29 Nov '17, 3pm

Bitcoin hits $11,000

Bitcoin hits $11,000

ALTHOUGH it may defy all reason, it should surprise no one that the price of bitcoin, a cryptocurrency, has just passed $11,000. Bitcoin’s ascent has been dizzying: four days ago it was worth less than $9,000 and a year ago it was worth less than $800. The cryptocurrency has plenty of doubters, including Jamie Dimon, head of JPMorgan Chase, a bank. In September Mr Dimon declared that bitcoin was a “fraud”, and that he would fire any employee found trading the cryptocurrency for being “stupid”. Markets were initially rattled, but have regained their resolve. The price of bitcoin has since risen by around 160%.

Full article: http://www.economist.com/blogs/graphicdetail/2017/11/dail...

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Bitcoin Price Hits $10,000

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