trading: It is now within reach of its historic high of more than 1,200 reached in 2013, according to The Japan Times. Some analysts believe the rise in bitcoin is due to some investors treating it as a safe-haven, like gold, at a time of global uncertainty. Its value has more than doubled in the last year and it was trading at around 1,024 in afternoon European trading on Monday, after breaking through the 1,000 mark on Sunday. Others believe buying is being driven by speculative demand, with investors anticipating future rises and creating an unsustainable bubble. Earlier this year secretive Australian entrepreneur Craig Wright said that he was the creator, but some have raised doubts over his claim. Bitcoin was launched in 2009 as a bit of encrypted software written by someone using the Japanese-sounding name Satoshi Nakamoto.
(news.financializer.com). As
reported in the news.
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