Bitcoin reaches new all-time high versus dollar

Posted on Thursday, February 28 2013 @ 11:21 CET by Thomas De Maesschalck

Following a new surge in popularity, the value of a Bitcoin has reached a new all-time high of $33.2 according to Mt. Gox, the most popular Bitcoin trading site. It will be interesting to see whether Bitcoin will be able to hold on to its record value, after hitting $30 in June 2011 the value of the digital currency collapsed to under $3 in just a few months time.

It’s likely that online gambling has played a part. As we’ve reported earlier this year, one Bitcoin-based site took in $500,000 in profit in just six months in 2012—and Bitcoin gambling is set to get even bigger. For now, gambling with the cryptocurrency, like using Bitcoins in general, remains in a legal grey area (which may be part of the appeal as well).

Still, it’s been slowly gaining legitimacy in the marketplace, with groups like the Internet Archive and WordPress accepting donations and payment in the currency.

Source: ARS Technica

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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