BIT UP IN THE AIR

Bitcoin price – today’s rate in USD and GBP for December 8 and latest news on the cryptocurrency

BITCOIN continued to rise in value this week as it reached ever-greater highs.

The cryptocurrency was trading at £12,462.87 for a single unit at the time of writing.

Against the dollar, a single bitcoin is now worth a massive $16,857.34, after smashing through the $16,000 barrier overnight.

And there is now growing interest from institutional investors as it continues to break its own records.

The then-record high for one Bitcoin of £8,015 ($10,740) was reached on November 29 and basically saw the coin striking its mainstream moment.

But its value has continued to climb since then and shows no sign of stopping.

The dramatic rise has been attributed to surging demand in China, where authorities warn it is used to channel money out of the country.

In March 2017 the price exceeded the value of an ounce of gold for the first time – then around £940.

Deb Topic