Bitcoin Rockets Past $3,000 to a New Record High

Bitcoin
By David Z. Morris.

In just four hours of early Saturday trading, the price of the cryptocurrency Bitcoin surged over 9% to a new record. At the time of this writing, one Bitcoin is valued at $3,169.90, well above the previous record of $3,000 set in June.

Bitcoin’s total market value is now more that $52 billion, according to data from CoinMarketCap, and the return on Bitcoin investments made on January 1st of this year stands at nearly 220%.

Bitcoin will almost certainly remain a highly volatile asset, but its latest high reflects a major positive development. After years of heated debate over how to increase the Bitcoin network’s transaction capacity, major players have finally agreed on a compromise solution known as Segwit2x. That accomplishment is reassuring for those who may have begun to doubt the effectiveness of Bitcoin’s leaderless governance model.

Read more at Fortune.

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