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Bitcoin value surges past $9000 mark

2017-11-27 11:19 by
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The cryptocurrency Bitcoin reaches another milestone, reaching record-highs of $9484.94 per bitcoin on Sunday, November 27. The move takes it to 20% above the level it stood at on Friday, according to the Luxembourg-based Bitcoin exchange, Bitstamp.

The digital currency has seen an eye-watering tenfold increase in its value since the start of the year and has more than doubled in value since the beginning of October, lifted by the prospect of crossing over into the financial mainstream, amid a flurry of crypto-hedge fund launches.

It's worth remembering that the same cryptocurrency unit was worth around $730 a year ago. That's a 1,240% annual increase—not that it hasn't been a seriously bumpy road.

Bitcoin currently has a market capitalization of more than $150 billion, which is more than half of the entire cryptocurrency market currently valued at around $290 billion.

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