Bitcoin tops £5,000 in value

  • Image copyright – Getty Images – – – – – Image caption – – For the first time ever, Bitcoin has hit £5,000 in value – – – – The price of Bitcoin has surpassed £5,000 per coin – a new record.While it is a historic moment of sorts, Bitcoin…
  • Its value was lower than $100 in June 2013, and below $1,000 as recently as January.But in August, the virtual currency soared to $3,451 after a spin-off – Bitcoin Cash – failed to prove as disruptive as had been feared.And in September, Bitcoin crossed the $5,000 threshold for the first…
  • “It’s been a very innovative year – there have been a lot of new technology platforms for cryptocurrencies, which have lifted Bitcoin,” Garrick Hileman a research fellow at University of Cambridge told the BBC.
  • “Coinbase – a business that lets the public trade and store digital currencies – reports that it is now signing up between 35,000 to 50,000 new users per day.Mr Hileman said that many people had recently been attracted to invest in Bitcoin because when a “fork” happened in August, investors…
  • “Rising geopolitical tensions on the Korean Peninsula are also driving interest in Bitcoin in the surrounding countries, because people are wary of investing in the yen or the dollar,” Mr Hileman added.However, he continued, government regulators may crack down on cryptocurrencies, which could drive prices back down.

The price of Bitcoin has finally surpassed the £5,000 mark and set a new record.
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