Home From the Wires Bitcoin prices top $1000

Bitcoin prices top $1000

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Wednesday, November 27, 2013

Wired: The value of a Bitcoin is now $1,000, 11 months after it was worth only $10.

As of 7:25 a.m. Pacific time this morning, bitcoins were trading at $1,041 on Mt. Gox, the world’s most prominent bitcoin exchange, a place where you can swap federal monies, such as dollars and yen, for the digital currency.

The price of a bitcoin has surged in recent weeks, likely driven by heavy demand in China and by public statements from U.S. financial authorities that seemed to endorse the digital currency — at least in part. Bitcoin prices topped $1,000 on a Chinese exchange last week, before hitting that mark on Mt. Gox, which is based in Japan but is used worldwide, including here in the U.S.

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