comscore Bitcoin soars above $10,000 on some exchanges
News

Bitcoin soars above $10,000 on some exchanges

One bitcoin is now worth $10,000!

  • Published: November 29, 2017 10:37 AM IST

Bitcoin non-believers might be disappointed with the news that the virtual currency has witnessed an all-time high of above $10,000 (Rs 650,000 approximately) this week on some smaller exchanges and digital currency indexes. The virtual currency has soared more than 900 percent so far this year. Also Read - Facebook eases bans on cryptocurrency ads

Also Read - Bitcoin at 2-month low after South Korean exchange hacked

The value was witnessed on international exchanges and just crossed on US exchanges like Coinbase and Gemini a few hours back. The mind-boggling valuation arrives two days after bitcoin first crossed $8,000 a week back, followed by $9,000 two days ago. Also Read - London police seize bitcoin worth $667,000 from hacker

According to TechCrunch, bitcoin is now up 1,258 percent over the past year, with the cumulative value of all cryptocurrencies up 2,174 percent to a total of $316 billion. Bitcoin alone currently represents about 54 percent of this total market cap.

The currency, created first in 2009, uses encryption and blockchain database for fast and anonymous transfer of funds outside of the traditional centralized payment system. The extraction technique and the possible misuse has left the lawmakers divided on formalizing the virtual currency.

“With Bitcoin nearing $10,000, long-time bitcoiners finally feel vindicated that their currency that has been ridiculed for years, is at last being taken seriously,” Sol Lederer, blockchain director at US technology company LOOMIA, is quoted as saying in a Reuters report.

“Bitcoin’s future is still uncertain; it faces the same serious technical challenges it has for years and faces stiff competition from newer, more sophisticated blockchains. But even if it were to crash, it’s apparent that bitcoin is here to stay,” Lederer added.

Even as Bitcoin is midway being a real currency with a virtual nature, it is yet to be widely adopted. Even as there are over 100 crypto currency-focused funds, people are not aware of bitcoin, and not many investors are willing to buy a stake in it.

Meanwhile, as the Bitcoin value soars, there’s still mystery around its creator. All that is known is the person someone named (codenamed) Satoshi Nakamoto founded the virtual currency. In the latest twist, a former intern at SpaceX reckons that Bitcoins could have been founded by Elon Musk (founder-owner of SpaceX). The former intern, Sahil Gupta, argues that Bitcoin source code was written by someone with a mastery of the C++ language, which Musk has.

For the latest tech news across the world, latest PC and Mobile games, tips & tricks, top-notch gadget reviews of most exciting releases follow BGR India’s Facebook, Twitter, subscribe our YouTube Channel.
  • Published Date: November 29, 2017 10:37 AM IST



new arrivals in india

Vivo V20 Pro
Vivo V20 Pro

29,990

Xiaomi Mi 10T
Xiaomi Mi 10T

35,999

Xiaomi Redmi 9i
Xiaomi Redmi 9i

8,299

Xiaomi Mi 10T Pro
Xiaomi Mi 10T Pro

39,999

Infinix Hot 10
Infinix Hot 10

9,999

Vivo V20 SE
Vivo V20 SE

20,990

Vivo V20
Vivo V20

24,990

Micromax In 1b
Micromax In 1b

6,999

Micromax In Note 1
Micromax In Note 1

10,999

OnePlus 8T
OnePlus 8T

42,999

Samsung Galaxy F41
Samsung Galaxy F41

15,499

Apple iPhone 12 Pro Max
Apple iPhone 12 Pro Max

1,29,900

Apple iPhone 12 Pro
Apple iPhone 12 Pro

1,19,900

Apple iPhone 12 Mini
Apple iPhone 12 Mini

69,900

Apple iPhone 12
Apple iPhone 12

79,900

Poco X3
Poco X3

16,999

Realme Narzo 20A
Realme Narzo 20A

8,499

Realme Narzo 20
Realme Narzo 20

10,499

Realme Narzo 20 Pro
Realme Narzo 20 Pro

14,999

Oppo F17
Oppo F17

17,990

Samsung Galaxy M51
Samsung Galaxy M51

24,999

Poco M2
Poco M2

10,999

Oppo F17 Pro
Oppo F17 Pro

22,990

Realme 7 Pro
Realme 7 Pro

19,999

Realme 7
Realme 7

14,999

Xiaomi Redmi 9A
Xiaomi Redmi 9A

6,799

Vivo Y20
Vivo Y20

12,990

Xiaomi Redmi 9
Xiaomi Redmi 9

8,999

Nokia 5.3
Nokia 5.3

13,999

Motorola Moto G9
Motorola Moto G9

11,499

Realme C15
Realme C15

9,999

Realme C12
Realme C12

8,999

Samsung Galaxy Note 20
Samsung Galaxy Note 20

77,999

Xiaomi Redmi 9 Prime
Xiaomi Redmi 9 Prime

9,999

Oppo Reno4 Pro
Oppo Reno4 Pro

34,990

Samsung Galaxy M01 Core
Samsung Galaxy M01 Core

5,499

Realme 6i
Realme 6i

12,999

Asus Rog Phone 3
Asus Rog Phone 3

49,999

OnePlus Nord
OnePlus Nord

24,999

Infinix Smart 4 Plus
Infinix Smart 4 Plus

7,999

Xiaomi Redmi Note 9
Xiaomi Redmi Note 9

11,999

Samsung Galaxy M01s
Samsung Galaxy M01s

9,999

Vivo X50 Pro 5G
Vivo X50 Pro 5G

49,990

Vivo X50 5G
Vivo X50 5G

34,990

Realme C11
Realme C11

7,499

Poco M2 Pro
Poco M2 Pro

13,999

Realme X3
Realme X3

24,999

Realme X3 SuperZoom
Realme X3 SuperZoom

27,999

Tecno Spark Power 2
Tecno Spark Power 2

9,999

Oppo A12
Oppo A12

9,990

Oppo A52
Oppo A52

16,990

Samsung Galaxy A21s
Samsung Galaxy A21s

15,999

Oppo Find X2
Oppo Find X2

64,990

Motorola One Fusion Plus
Motorola One Fusion Plus

17,499

Samsung Galaxy A31
Samsung Galaxy A31

20,999

Samsung Galaxy M01
Samsung Galaxy M01

8,999

Samsung Galaxy M11
Samsung Galaxy M11

10,999

Infinix Hot 9 Pro
Infinix Hot 9 Pro

9,999

LG Velvet
LG Velvet

Price Not Available

Xiaomi Mi Note 10 Lite
Xiaomi Mi Note 10 Lite

Price Not Available

Apple iPhone SE 2020
Apple iPhone SE 2020

42,500

Honor 30 Pro
Honor 30 Pro

Price Not Available

Honor 30
Honor 30

Price Not Available

OnePlus 8
OnePlus 8

44,999

OnePlus 8 Pro
OnePlus 8 Pro

54,999

Xiaomi Redmi Note 9 Pro
Xiaomi Redmi Note 9 Pro

13,999

Motorola Moto E4
Motorola Moto E4

8,999

Samsung Galaxy On Max
Samsung Galaxy On Max

9,775

nubia N2
nubia N2

15,999

Karbonn K9 Kavach 4G
Karbonn K9 Kavach 4G

5,290

Motorola Moto C Plus
Motorola Moto C Plus

6,999

Best Sellers