Bitcoin soars to $2,400, an all-time high
Digital currency Bitcoin just set a new record, surging to $2,400 per unit, as demand increased following the financing of start-ups that use the blockchain technology, according to Reuters.
Blockchain is the technology underlying Bitcoin, and this is similar to a ”ledger” in which all transactions are written within its ”chain links”. These are maintained through a network of computers that track any movement of the assets
Thus, Bitcoin reached a record of $2,409 per unit of transaction platform BitStamp.
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Starting with early this year, the value of Bitcoin doubled.
One of the reasons for which Bitcoin dominates the segment of digital coins is the total value of money circulating on a worldwide level, with it being twice as much as the one of the nearest rival.
Another aspect of the Bitcoin development this year is represented by the initial coin offerings. Many start-ups sell such virtual coins straight to the public in order to finance themselves, escaping at the same time from any surveillance from financial authorities.
There is also a strong demand of Bitcoin from Japan, as people realised that money can be moved extremely fast from any part of the planet without the need of a central authority.
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