The price of bitcoin has shot up by more than $1,000 in a bizarre price spike for the cryptocurrency.
The volatile virtual currency rose from below $7,000 to briefly reach above $8,000 in an unprecedented surge that follows several months of steady decline.
It is not yet clear what has caused the value to increase by such a large amount, with some analysts speculating that breaking the $7,000 price point sparked a surge in bitcoin investment.
"Today’s rise doesn't appear to be driven by any significant news stories," Ed Cooper, head of mobile at fintech startup Revolut, told The Independent.
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Source: Independent
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