Bitcoin, the worldwide payment and crypto currency system still continues to break the new records and has crossed $10,000, an event occurred for the first time in the history of Bitcoin, according to the index of Coin Market Cap. The most popular crypto currency in the world has crossed the historical record at around 11:14 UTC, bringing new investors rapidly in and occupying more valuable place than ever before as compared to such mighty companies as McDonald’s, IBM, Disney, PayPal, etc.
Bitcoin is trading at $10,032 around at press time, while the market capitalization of the system has already crossed $167 billion. As Bitcoin reached the new records, all digital currencies’ market cap gushed yesterday to a record high of more than $300 billion, which is now crossing $310 billion.
Being the first decentralized digital currency system, which runs without any single administrator or central repository, its value has rising above 900% a weighted average-based year-to-date that provides something like a windfall to the investors those are willing to stomach the notorious volatility of Bitcoin.
An Austrian economist, president of the National Bank of Austria and policymaker at governing council of the European Central Bank, Ewald Nowotny said in a statement that, “The problem with Bitcoin is that it could easily blow up and central banks could then be accused of not doing anything. So we’re trying to understand whether bank activity in relation to crypto currency trading needs to be better regulated.”