Bitcoin’s rocketing rise in value shows no sign of abating after breaking the $2,900 mark Tuesday, June 6, according to RT.
The digital payment reached a value of $2,967.48 at around 1.20pm UTC Tuesday, June 6 according to the Coindesk Bitcoin Price Index. The pricing is a record high for the cryptocurrency which has been hit with periods of volatility.
The spike has been linked to the legalisation of digital currencies in Asia in recent weeks. However, some financial observers suggest the hike is down to increasing confidence in the alternative currency.
“The biggest driver [of bitcoin] right now is you’re starting to see institutional investors take a keen interest in the entire sector,” financial commentator, Brian Kelly, said last month. “I don’t think this is hot money. This is real money that’s going to sit around and build the new internet.”
Bitcoin rival, ethereum, an open source platform providing ‘ether’ cryptocurrency, also received a boost this month.
The currency, which went live in 2015, reached an all-time high in value of $250.41 on Sunday.