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News Live: Bitcoin blasts past $14,000, less than 24 hours after crossing $12,000

December 07
07:22 2017
  • 06:54 AM IST

    Bitcoin blasts past $ 14,000, less than 24 hours after crossing $ 12,000

    Bitcoin rocketed higher on Thursday, crossing the $ 14,000 mark less than 24 hours after topping $ 12,000, reports CNBC. The landmark happened on the Coinbase exchange just before 4:30 am, and it traded as high as $ 14,400 on that platform. That said, there are often significant price differentials on different bitcoin exchanges. CoinDesk, a widely regarded industry site, didn’t show the cryptocurrency crossing the $ 14,000 level until about 6 am, according to its average of prices across leading exchanges.

    The digital currency’s gains accelerated after crossing the psychologically key level on Wednesday morning. Bitcoin now has a market value of more than $ 230 billion, meaning it would rank among the 20 largest stocks in the S&P 500. The latest swing higher came as bitcoin topped $ 12,000 on Wednesday morning in a rapid recovery from a 20% drop last week. The digital currency began the year below $ 1,000 and its gains have accelerated as investor interest grows.

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