Bitcoin, often called the “digital version of gold,” has reached a new all-time high, climbing above US$125,000 for the first time, Reuters reported on October 6.
The world’s largest cryptocurrency continues to surge on strong investor demand, boosted by institutional interest and friendlier US policies under President Donald Trump. Bitcoin’s price has risen more than 33% since January, marking another milestone in its volatile yet influential history.
Bitcoin was created as an innovative currency that operates outside of banks and government institutions, the value of which is determined by the mutual agreement of its users.
So, how exactly does Bitcoin work and why is everyone so interested in this form of currency? Click on to find the answers.