Digital monetary systems: Bitcoin climbs to record high

often referred to as digital currency called crypto-system, Bitcoin is as valuable as never. On Monday night, the course of the oldest and most famous crypto cu

Digital monetary systems: Bitcoin climbs to record high

often referred to as digital currency called crypto-system, Bitcoin is as valuable as never. On Monday night, the course of the oldest and most famous crypto currency rose on the trading platform Bitstamp to 19.857 dollars. Thus, the approximately three-year-old record was surpassed high by the end of 2017. On Bitstamp at the time, a peak of 19.666 Dollar was marked. On other platforms, of which there are numerous, the respective record stands something. On Tuesday morning, the price of Bitcoin was 19.417 dollars.

The Bitcoin has gained in the past few weeks, much of their value. Alone since the beginning of October, it has doubled in value almost. As the main driver of the project of the large payment service, Paypal, to allow its customers to Pay with Bitcoin and other crypto-currencies. Add to this that increasingly, professional investors seem to develop interest in the Bitcoin. A few months ago about the large asset Manager, Fidelity had launched a Bitcoin Fund.

However, digital currencies such as Bitcoin, are considered in the course is very volatile. Therefore, Central banks such as the Bundesbank reject it, to refer to Bitcoin as a currency, since the cryptographic systems satisfy the important money function as a store of value. The best example is the record-hunting, had driven the Bitcoin by the end of 2017 to nearly 20,000 dollars. At the time, a steep price crash occurred a short time later. Even before the recent record jump of Bitcoin had fallen significantly in the meantime. Critics saw this in their skeptical attitude towards digital currencies, confirmed that the high-rate swings used as a means of payment or form of investment stand in the way.

BTC/USD -- -- (--) Forex vwd 1T 1W 3M 1J 3J 5J For detail view

Many Bitcoin Fans are however of the opinion that digital currencies are increasingly used as a serious Alternative to traditional currencies could prevail. One reason for this is the high General interest in crypto-currencies, which is not least driven by the digital money efforts of large Central banks like the European Central Bank (ECB). Against the steadying of the rate of development could, however, speak again the rocket-like rise: in March, the Bitcoin was just $ 4000 value.

Updated Date: 01 December 2020, 16:19

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