Bitcoin Skyrockets to $700, Market Cap Reaches $11 Billion

[kreslik.news]

The BTC/USD exchange rate has just marked a major milestone with a two-and-a-half year record of $700. Just last Sunday the rate was around $575, making today’s record an increase of over 21% in just seven days. Furthermore, the recent rally in the price of Bitcoin was already going strong, having jumped about 10% from the previous week.

In terms of value, the total capitalization of all bitcoins in existence is now standing at about $11 billion again, a benchmark not seen since January 2014. For comparison, the market capitalization of online money transfers firm Paypal (NASDAQ:PYPL) is about $44 billion, already just about four ... (read more)