Monday, November 18

Bitcoin surges 24% to new high: big financial news out of Asia today

Bitcoin surges 24% to new high as popularity grows
By John Phillips, Digital Editor for
Monday, 18 Nov 2013 - 2:36 AM ET

Bitcoin touched a fresh all-time high on Monday as the digital currency continued to gain favor with investors.

The virtual currency rose to just under $608 on Mt. Gox exchange Monday afternoon in Asia, up 24.5 percent from the same time on Sunday.

Its latest gains come as the potential for regulation hangs over the market, with a U.S. Senate committee to discuss virtual currencies later on Monday.

According to Bobby Lee, CEO of BTC China – the world's largest Bitcoin exchange by volume – the price rise reflects increased awareness about the digital currency.

"There's more awareness of Bitcoin following recent press coverage," Lee said, highlighting the Bitcoin Singapore conference held last week and recent press coverage in China.

See the CNBC site for the rest of the report and links to a CNBC report on whether China can "make or break Bitcoin," and a discussion about whether Bitcoin is the real deal or just a digital version of tulip mania.


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