The Digital Currency Bitcoin Rose to A New Record High on Monday

Read Time:55 Second

The digital currency bitcoin rose to a new record high on Monday. The currency became worth more than 7 percent more on Monday, passing the previous high that was reached in December 2017.

One bitcoin is now worth $ 19,577, that’s $ 66 more than three years ago.

Bitcoins and other crypto coins have been on the rise for quite some time. This year, for example, bitcoin was already worth more than one and a half times as much.

The coins gained popularity as large companies like PayPal showed more interest in them. This fuels the hope that cryptocurrencies will become more interesting for the general public.

After the peak in 2017, bitcoin fell far away. By mid-2018, the best-known crypto coin was still worth about $ 4,000.

Besides, thanks to support measures from governments and central banks, so much money are available that more and more money is also being invested in riskier investments.

Finally, there is a group of people who expect bitcoins, like gold, to be a good investment because they are not susceptible to things like inflation.