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Author Topic: tnw: Bitcoin virtual currency stages epic comeback,hits new all-time high of $32  (Read 9039 times)

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Bitcoin virtual currency stages epic comeback, hits new all-time high of $32

After bottoming out at under $2 last November, the Bitcoin crypto-currency has staged a comeback. Mt. Gox, the currency’s largest exchange, has hit a new high, passing the $32 mark for its US dollar exchange rate, as noted by Bitcoin Magazine.

The previous record of $31.9099 was set on June 9, 2011. While we’ve seen some talk of an earlier spike to $35, that appears to have been a glitch, rather than a fully-supported valuation.

Bitcoin’s climb is an impressive one, since it rose over 16 times its lowest price back in November 2012. Believers in the currency who bought it back then are patting themselves on the back now.

Mainstream support for the currency is growing. Reddit recently began accepting Bitcoin for its reddit gold payment options, and domain registrar Namecheap is preparing to accept the currency. The Internet Archive is offering to pay its employees in Bitcoin and is asking for donations of the currency to help it do so. Kim Dotcom’s new Mega service and also accept Bitcoin.

We took a long look at Bitcoin’s prospects last September and concluded that it wasn’t going anywhere, despite fluctuations in price.

Security is going to be an ongoing concern for Bitcoin skeptics, though. Last fall, a hacker managed to steal 24,000 Bitcoins (worth roughly $250,000 at the time, though it’d be worth over $780 at today’s rate) from Bitfloor, one of the currency’s top exchanges. The exchange eventually reopened with additional security improvements.

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Lets hope it crosses 50$ mark this year and Long live the Bitcoins! Why cyber currency bitcoin is trading at an all-time high

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