Digital currency bitcoin rocketed above $7,000 for the first time ever on Thursday, November 2, after a more than sevenfold increase in its value since the start of the year.
Bitcoin has seen eye-watering gains in recent months and has more than doubled in value in the past seven weeks alone . It hit as high as $7,066.44 on the Luxembourg-based Bitstamp exchange on Thursday.
The latest story which was driven by news earlier this week was the announcement that world’s largest derivatives exchange operator CME Group is to launch bitcoin futures.
The price move takes bitcoin’s aggregate value, or “market cap” — its price multiplied by the number of bitcoins released into circulation, which is more than $117 billion, according to Coinmarketcap, the industry website.
The aggregate value of all cryptocurrencies is now at a record high of over $190 billion, the website revealed.
