Bitcoin Hits $2,000 Trading High Point

Bitcoin Hits $2,000 Trading High Point

The value of a bitcoin has hit a new high, with each individual coin now worth more than $2,100.

The valuation caps a strong month for the virtual currency, with its value growing by more than 65% in a month.

The steady rise in value is believed to be linked to policy changes in Japan and China that have made it easier for speculators to trade in bitcoins.

In November 2013 bitcoin first broke its $1,000 barrier; however its value has changed massively since then, as back in November 2014 a bitcoin was only worth $280.

Bitcoin is a digital currency based around cryptography. Those involved in the currency use computers to verify the globally-held log, known as the block chain – which states who spent what, where.

Rivals such as Ethereum and Ripple have been gaining value far faster than bitcoin over the last few months. 

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