In BriefBitcoin has surpassed another milestone by reaching worth of more than $4,000. Many are still optimistic about the currency's future.
Another day, another Bitcoin milestone passed. The world’s first and largest cryptocurrency surpassed the $4,000 mark for a moment yesterday. The new all-time high for Bitcoin is now $4,162.57. The price has dropped slightly since that high was reached, and at the time of writing now sits at $4,072.30.
This latest milestone marks the currency’s seemingly unstoppable surge since the beginning of the year. In January, Bitcoin was trading at less than $1,000 per coin. Now, the burgeoning cryptocoins are worth more than four times that amount. Early adopters must be rejoicing that their faith in the cryptocurrency is (thus far) being rewarded.
Experts remain optimistic about Bitcoin’s potential, yet some are beginning to fear that it has entered a bubble. Still, the trend seems to be in favor of its continued success. No one knows for sure what the future of Bitcoin — or cryptocurrencies in general — will look like. The debate of whether the reward is worth the risk will continue to rage on.
The bigger picture here though, is blockchain. While it is most closely associated with cryptocurrency at the moment, that doesn’t even begin to scratch the surface of what is possible with this tech. So while cryptocurrency may still be considered a gamble, get ahead of the game and read up on blockchain, because it is, almost certainly, the future.
Disclosure: Several members of the Futurism team, including the editors of this piece, are personal investors in a number of cryptocurrency markets. Their personal investment perspectives have no impact on editorial content.