This week, the value of a Bitcoin reached its all time high and is continuing a slow rise upwards. According to Bitcoin Magazine, Wednesday saw Bitcoins exceed it’s previous all time high of $31.9099 USD set on June 9, 2011. Today that USD value has continued to soar on MtGox to $34.41. This is a notable increase since even the very end of 2012 when the value hovered around $13.50.
Trading volume in Bitcoins continues also to rise as media attention has turned a spotlight towards this entirely Internet-based cryptocurrency. Popular vendors in the social sphere have also started to come on board withWordPress.com, Reddit, and even MEGA accepting Bitcoins.
The 2011 all-time-high didn’t last, however, and Bitcoin’s market saw a massive crash from its height down to even lower than the $7 that it sat at in January of 2012—mostly in the wake of a series of hacks that hit exchanges including MtGox. Since then the currency has been slowly regaining its momentum, mostly with the maturation of different exchanges and other services that have come to take advantage of the market provided.
Now there are a number of services and outlets capitalizing on the useful nature of Bitcoin including payment processors such as BitPay managing 10,000 transactions fraud-free andBitcoin-Central partnering with Aquoba to permit money-holding accounts. With bitcoins, electronics retail outlet BitcoinStore intends to use the currency to reduce overhead and therefore price to customers allowing them to sell products at near cost.