- Bitcoin jumps past $15,000 on Thursday
- Bitcoin advanced by over 50% in one week
- Bitcoin has reported more than 1,300 per cent rise this year.
Five things that you should know about bitcoins, the world's most popular cryptocurrency:
1. Bitcoin has been breaking its records in quick succession one after the other. No sooner is a record is made than it is broken. The earlier thresholds of $10,000 and $ 11,000 have been breached in less than a week each.
2. The Reserve Bank of India (RBI) on Tuesday reiterated its concern of the future of bitcoins and uncertainty surrounding it. The RBI said it wanted to reinforce its previous message to "users, holders and traders of Virtual Currencies (VCs) including Bitcoins regarding the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with such VCs."
3. A few days ago, soon after the virtual currency had hit the ceiling of $11,000, Finance Minister Arun Jaitley clarified that India doesn't consider the bitcoin 'as a legal currency as of now'. Bitcoin's meteoric ascent of over 10-fold from below $1,000 at the start of the year has drawn regulatory scrutiny around the world. Some high profile individuals such as Nobel Prize-winning economist Joseph Stiglitz have said the cryptocurrency should be outlawed.
4.The market value of the bitcoin has soared from less than $1,000 at the start of the year. The virtual currency has reported more than 1300 per cent rise this year.
(With inputs from Reuters, AFP)
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