Bitcoin rises above $1,000 in a first in three years

Bitcoin - a web-based 'cryptocurrency' that has no central authority- jumped 2.5 percent to $1,022 on the Europe-based Bitstamp exchange, its highest since December 2013.
Bitcoin logo. (File photo | Reuters)
Bitcoin logo. (File photo | Reuters)

LONDON: Digital currency bitcoin kicked off the new year by jumping above $1,000 for the first time in three years late on Sunday, having outperformed all central bank-issued currencies with a 125 percent climb in 2016.

Bitcoin - a web-based 'cryptocurrency' that has no central authority, relying instead on thousands of computers across the world that validate transactions and add new bitcoins to the system - jumped 2.5 percent to $1,022 on the Europe-based Bitstamp exchange, its highest since December 2013.

Related Stories

No stories found.
The New Indian Express
www.newindianexpress.com