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Topic: [2017-05-24] Mint: Bitcoin soars above $2,400 to all-time high (Read 334 times)

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Bitcoin soars above $2,400 to all-time high

http://www.livemint.com/Money/CqDPFpr1fE0SIhoLcuvDyK/Bitcoin-soars-above-2400-to-alltime-high.html

Digital currency bitcoin hit a fresh record high on Wednesday, surging above $2,400, as demand for crypto-assets soared with the creation of new tokens to raise funding for start-ups using blockchain technology.

Blockchain, the underlying technology behind bitcoin, is a financial ledger maintained by a network of computers that can track the movement of any asset without the need for a central regulator.

Bitcoin hit a record of $2,409 on the BitStamp platform and was last up 4.3% at $2,363. So far this year, the price of bitcoin has more than doubled.

A key reason for bitcoin’s dominance in the nefarious online underworld, say technologists and cybercrime experts, is its size — the total value of all bitcoins in circulation is more than twice that of the nearest of hundreds of rivals.
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