{"id":21653,"date":"2017-11-29T06:46:44","date_gmt":"2017-11-29T06:46:44","guid":{"rendered":"http:\/\/www.bnreport.com\/bitcoin-crosses-10000-milestone\/"},"modified":"2017-11-29T06:46:44","modified_gmt":"2017-11-29T06:46:44","slug":"bitcoin-crosses-10000-milestone","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/bitcoin-crosses-10000-milestone\/","title":{"rendered":"Bitcoin crosses $10,000 milestone"},"content":{"rendered":"

The value of one bitcoin has gone past $10,000 (\u00a37,493). <\/p>\n

The virtual currency reached the benchmark for the first time, just days after it passed $9,000.<\/p>\n

It caps a remarkable rise in value for the crypto-currency, which was trading below $1,000 at the start of the year.<\/p>\n

Some experts believe the asset still has far to soar<\/a>, but others say it represents a speculative bubble with nothing tangible at its core that could burst any time.<\/p>\n

The total value of all the bitcoins in existence has now<\/a> surpassed $167bn.<\/p>\n

What's behind the Bitcoin gold rush?<\/a><\/p>\n

New heights<\/h2>\n

Bitcoin first reached $1,000 in late-2013 and then dipped significantly before starting a volatile climb to its current value.<\/p>\n

It is not entirely clear what has driven the sudden rise in value, especially because the past few weeks have been marked by action by some financial regulators to limit its use.<\/p>\n

One factor that may have helped was the US-based derivatives marketplace operator CME Group's announcement at the start of the month that it planned to launch a Bitcoin futures product before the end of 2017, which bolstered confidence in its prospects.<\/p>\n

Another was a decision to drop a controversial plan known as Segwit2x. <\/p>\n

This would have altered the way Bitcoin's underlying technology, the blockchain, worked, to help it handle more transactions. <\/p>\n

But the move risked splitting the community.<\/p>\n

Many industry watchers believe the rapid rise in value will not be sustained and expect its value to suddenly fall sharply.<\/p>\n

Bitcoins were first produced in 2009 and took a long time to become an accepted holder of monetary value that could be swapped for real-world cash. <\/p>\n

One early transaction involved using 10,000 bitcoins to buy two pizzas.<\/p>\n

The boom has led to a general rise in many other virtual currencies.<\/p>\n

One, known as Ethereum, is now worth about $480, but at the start of 2017 each one was worth only about $10.<\/p>\n

Many others are also trying to profit from the growing interest in crypto-currencies. <\/p>\n

Many malware writers are now seeking to install software on vulnerable websites that create or "mine" the coins.<\/p>\n

In addition, scammers have sent fake text messages to people's phones, claiming they own some of the digital currency, in an effort to tempt them into opening a dangerous link.<\/p>\n

<\/a><\/strong> <\/a><\/p>\n

Original Article<\/a><\/p>\n

[contf] [contfnew] <\/p>\n

BBC<\/a><\/h5>\n

[contfnewc] [contfnewc]<\/p>\n","protected":false},"excerpt":{"rendered":"

The value of one bitcoin has gone past $10,000 (\u00a37,493). <\/p>\n

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