Bitcoin value surpasses $1,000 for first time
The price at which a single unit of the digital currency trades has risen dramatically in recent months
The value of a bitcoin has risen over $1,000 (£610) for the first time ever, just months after a single unit of the digital currency was priced at around $10.
At 7.25am on the Pacific coast (3.25pm GMT), bitcoins were trading for $1,041 on Mt. Gox, the most high profile exchange for the country in the world, according to reports from Wired.
Dan Held, an expert in tracking the bitcoin market, told the website: “China is still driving overall demand. However, I think there has been a paradigm shift in how people think about Bitcoin in the US.
“Over the last few days, my friends, parents’ friends, and people that I never thought would buy bitcoin have contact me, not asking ‘what is bitcoin,’ but ‘how do I get bitcoin?”
Bitcoin has seen a surge in value in recent weeks after it received recognition from a series of major businesses and authorities across the world.
It featured in a US Senate hearing last week to consider the possibility it could be placed under American regulation.
In a letter written ahead of the congressional hearings US Federal Reserve chairman Ben Bernanke states that although the Federal Reserve “does not necessarily have authority to directly supervise or regulate” virtual currencies, such innovations may hold “long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system.”
“In general,” writes Bernanke, “the Federal Reserve would only have authority to regulate a virtual currency product if it is issued by, or cleared or settled through, a banking organization that we supervise.”
It was also announced by Sir Richard Branson that his space tourism company Virgin Atlantic will start accepting bitcoins as payment.
“All of our future astronauts are pioneers in their own right,” wrote Sir Richard, “and this is one more way to be forward-thinking.”
Life & Style blogs
Alexander McQueen at auction: What makes a really great piece of fashion?
A bottle of wine a day is not bad for you and abstaining is worse than drinking, scientist claims
No female ejaculation, please, we’re British: a history of porn and censorship
Stressed nurses are 'forced to choose between health of patients and their own'
Pornhub: Kim Kardashian's sex tape is the most-watched porn video of all-time
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Shock poll shows voters believe Ukip is to the left of the Tories
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
iJobs Gadgets & Tech
£50000 per annum + 26 days holiday,pension: Ashdown Group: A highly successful...
£30 per hour: Ashdown Group: An industry leading and well established business...
£20000 per annum: Ashdown Group: A highly reputable business is looking to rec...
£28000 per annum: Ashdown Group: A highly reputable business is looking to rec...