Bitcoin surges above $14,000 to new high
Bitcoin crossed $14,000 on Thursday, surging $2,000 in less than 24 hours, a new record high for the cryptocurrency.
Bitcoin began the year below $1,000 but continues its sharp rise despite warnings of a dangerous bubble, reports the BBC.
It hit the latest milestone during early trading in Asia, according to the website Coindesk.com.
The new record high comes just days before the launch of bitcoin futures on two exchanges, including the world's largest futures exchange, CME.
Spread betting firm CMC Markets said the rise had all the symptoms of a bubble market, warning "there is no way to know when the bubble will burst".
Bitcoins are created through a complex computer process known as mining, and then monitored by a network of computers across the world.
A steady stream of about 3,600 new bitcoins are created a day - with about 16.5 million now in circulation from a maximum limit of 21 million.
- Humbolt penguin gives birth to chick in Mumbai zoo 16 Aug 2018 | PTI
- Kareena to be showstopper at LFW finale 16 Aug 2018 | IANS
- Disney confirms James Gunn won't be hired back for 'Guardians of the Galaxy Vol. 3' 16 Aug 2018 | PTI
- Former India captain Ajit Wadekar no more 16 Aug 2018 | PTI
- Putin to attend Austrian foreign minister''s wedding 15 Aug 2018 | AP
- Modi visits AIIMS to inquire about Vajpayee's health 15 Aug 2018 | PTI
- India taking its rightful place as leading global power: US 15 Aug 2018 | IANS
- Putin invites Kim for urgent summit: Report 15 Aug 2018 | IANS
- Rani Laxmibai an iconic role: Kangana Ranaut 15 Aug 2018 | PTI
- ISRO to send Indian into space by 2022 15 Aug 2018 | IANS
Sunday EditionView All
12 Aug 2018 | Kestur Vasuki | Bengaluru
Karnataka Chief Minister HD Kumaraswamy who is facing wrath from the farmers in the State, in an appealing gesture planted paddy saplings in solidarity on Saturday. He chose Aralukuppe village in Mandya district the heart land of vokkaliga politics sowed paddy saplings in a muddied agriculture field amidst a large gathering...
STATE EDITIONSView All
15 Aug 2018 | Staff Reporter | Raipur
State of Chhattisgarh is moving faster from malnutrition to normal. But on the path, to achieve the target cooperation of all is required, said women and child development minister Ramsheela Sahu...