$10,000: Bitcoin Passes the Historic Milestone

Journalist:
Samburaj Das @sambdas
November 29, 2017

Bitcoin price is now firmly trading above the significant figure of $10,000 after hitting the milestone for the first time in its nine-year history today.

As bitcoin’s rally continues in its upward trajectory, the momentum shows few signs of abating after trading value crossed $10,000 in the early hours of Wednesday (UTC). The world’s first cryptocurrency rang the $10,000 bell near 01:30 UTC with trading across multiple USD exchanges including Coinbase and Gemini showing traded spot value above the milestone figure.

Not content with the historic high, a trading frenzy continued to push the cryptocurrency’s value even higher to register a new all-time high of $10,913 (Coinbase).

The cryptocurrency, now firmly in the mainstream as a store-of-value for investors, rose above $9,000 for the first time this weekend. The leap to hit above $10,000 earlier today represents the fastest 1000-point gain for bitcoin, in under 4 days.

Since the turn of the year, bitcoin is now up nearly 1,000 percent. Those aggressive gains have propelled its market capitalization above a $180 billion. Dropped into the M1 (liquid money supply) metric, bitcoin would now rank at #25 on the global list, above the likes of Brazil, Singapore and the UAE.

At press time, bitcoin is trading near $10,600.

Featured image from Shutterstock.

Samburaj Das @sambdas

Samburaj is the Editor for CCN, among the earliest and foremost publications covering financial and blockchain news. He has authored over 2,000 articles for CCN. Email him samburaj(@)ccn.com or find him barely tweeting @sambdas