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Cryptocurrencies

Bitcoin jumps above USD 1000 with a 125 percent climb in 2016

Tuesday 3 January 2017 | 09:46 AM CET

Bitcoin has kicked off the new year by jumping above USD 1,000 for the first time in three years, having outperformed all central-bank-issued currencies with a 125% climb in 2016.

Bitcoin jumped 2.5% to USD 1,022 on the Europe-based Bitstamp exchange, its highest since December 2013. Its biggest daily moves in 2016 were around 10%, still very volatile compared with fiat currencies, but markedly lower than the trading of 2013, which saw daily price swings of as much as 40%.

Though bitcoin is still some way off the all-time high of USD 1,163 that it reached on the Bitstamp exchange in late 2013, there are now more bitcoins in circulation - 12.5 are added to the system every 10 minutes. Its total worth is at a record-high above USD 16 billion, putting its value at around the same as that of an average FTSE 100 company.

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