There’s no sign of stopping for the world’s most popular cryptocurrency! This Wednesday morning, Asia-time, Bitcoin just hit a new record, breaking above $12,000.
But this was just the start, as the digital currency leaped further, according to CNBC. At 2:13 p.m., it traded about 10 percent higher, reaching $12,917, which is the actual historic high.
ETH is still far away
On the other side, Bitcoin cash traded around $1,476, while the coin’s main competitor (even though there’s a huge difference between them), Ethereum, traded around $441.
These numbers are definitely impressive, considering that at the start of 2017, Bitcoin was trading at less than $1,000 per token, but over the past week, it was absolutely unstoppable.
The huge growth started in October, when it crossed $5,000, while two months later it crossed $11,000 for the first time.
With this latest record value, Bitcoin has a total market value of $213 billion, which is more than a lot of important companies, which have been present on the market for a while, like Goldman Sachs’.
However, a lot of important figures in the financial world and not only are not convinced by the potential of this cryptocurrency. For example, Stephen Roach, former Asia chairman and Morgan Stanley chief economist, declared that he is still skeptical of investing.
“This is a toxic concept for investors,” said Roach, currently considered by Yale as one of Wall Street’s most influential economists. “This is a dangerous speculative bubble by any shadow or stretch of the imagination.”
Getting close to becoming an officially accepted currency
Still, despite such opinions, a lot of elements of the financial world are already embracing Bitcoin. Major exchanges, including CME , are looking forward to legitimizing the currency’s investment credentials. Specifically, they are planning to introduce futures contracts to their respective exchanges, but there’s still a long way until there.
Right now, we’re looking forward to seeing if Bitcoin will manage to reach $15,000 by the end of the year. If it maintains the current rhythm, we won’t be surprised at all if this happens.