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Bitcoin Hits New All-time High of $32
Sabbetus writes "Bitcoin tops its previous all-time high of $31.91 and in doing so it proves to be quite a resilient virtual currency. To the supporters of Bitcoin this does not come as a surprise, since we have seen the likes of WordPress, Reddit and Mega embrace it. Recently Namecheap also confirmed that they will start accepting bitcoins. The new record price was reached on the same day that Mt. Gox, the world's largest Bitcoin exchange, reached an agreement with CoinLab to manage the exchange's operations in the U.S. and Canada."
A far cry from the end of 2011.
Comparing Bitcoin to a small nation is actually a valid one. $33/coin at the moment x 10.84 million coins in circulation = $358 million in circulation. That puts it between Swaziland and Burundi, two small African nations. It just happens that the "Bitcoinians" are a distributed online nation, instead of tied to geography. That there are 23 smaller national money supplies, and 167 larger ones does not invalidate Bitcoin, in fact it shows it has already reached the scale for a national currency, if not the world's largest. Given the value was trivial as little as 2 years ago, that is quite an achievement. It show how fast adoption can be for an internet-based tool.