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Bitcoin jumps above $1,000 for the first time in three years

Bitcoin has outperformed all central-bank-issued currencies with 125% climb in 2016

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Bitcoin

Reuters  |  London 

Digital currency bitcoin kicked off the new year by jumping above $1,000 for the first time in three years late on Sunday, having outperformed all central-bank-issued currencies with a 125 percent climb in 2016. Bitcoin — a web-based “cryptocurrency” that has no central authority, relying instead on thousands of computers across the world that validate transactions and add new bitcoins to the system — jumped 2.5% to $1,022 on the Europe-based Bitstamp exchange, its highest since December 2013. Though the digital currency has historically been highly volatile ...

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First Published: Tue, January 03 2017. 09:04 IST
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