Ladies and gentlemen, one bitcoin is now worth $10,000

It seems unreal, but it’s true: The price of digital cryptocurrency Bitcoin has just hit $10,000. 

The all-time-high milestone comes after a period of ultra-fast growth, in which the price of Bitcoin rose from about $3,000 to $10,000 in less than three months. And on Jan. 1, 2017, the price was around $1,000, according to CoinMarketCap, meaning Bitcoin is up a neat 1,000% this year. 

Besides being a big psychological barrier, the price of $10,000 carries no specific meaning for Bitcoin, whose recent growth doesn’t appear to be spurred by any sensible metric. Instead, the cancellation of a controversial hard fork in November, increased interest from the public, and institutional investors joining the fray appear to have fueled the stellar price rise.  Read more…

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