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Bitcoin Reaches All-Time Record of Almost $8,500

© Sputnik / Vladimir Astapkovich / Go to the photo bankBitcoin cryptocurrency
Bitcoin cryptocurrency - Sputnik International
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​​​​Bitcoin, which is the first international decentralized digital currency, has hit a new record in value.

Bitcoin, the world's most popular cryptocurrency, almost reached $8,500 on Saturday, setting another record. 

Earlier this month, the price of bitcoin fell to $5,500 following the scrapping of the SegWit2X update that made some miners and investors shift to offshoot bitcoin cash.

However, the cryptocurrency returned to growth and surpassed $7,000 on news that the Chicago Mercantile Exchange would start trading futures on the digital currency.

Analyst: Bitcoin Could Be Temporary Bubble, But People Aren't Betting on That

Bitcoin started the year just above $1,000, and the overall growth now is approaching 850 percent. The cryptocurrency's market capitalization has reached $142 billion, making it more valuable than corporations like Siemens, Mastercard, British American Tobacco or McDonald's.

​​​​Bitcoin is the first international decentralized digital currency. The system works without a single administrator or central repository, while transactions between people are made directly without an intermediary.

The currency was released as open-source software in 2009 by an unknown person or group under the name of Satoshi Nakamoto.

 

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