Bitcoin prices surged past the $5,300 mark on Thursday, closing at $5,363 — only to reach a new all-time high value at $5,856.10 some time early Friday morning, after markets had opened at a $5,439.
The increase in value comes after Russia banned Bitcoin and expressed interest in rival Ethereum. The Russian ban followed previous moves against cryptocurrencies by South Korea and China, which included prohibiting initial coin offerings (ICOs). The market, it would seem, finally got over the fears incited by these moves.
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.