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Bitcoin Smashes Past $7,000 For the First Time (cnbc.com)
A reader shares a report: Bitcoin hit another all-time high Thursday morning, surpassing $7,000 for the first time. The cryptocurrency has had a bullish streak throughout the week following the CME's announcement that it will introduce bitcoin futures contracts. According to data from CoinDesk, the virtual currency reached an all-time high of $7,242.69 at about 7:08 a.m. ET. The jump in price saw the virtual coin rise by more than 7 percent on the day. A surge in the digital coin's value saw the total market value of all cryptocurrencies top $189 billion for the first time Thursday. The market cap of bitcoin alone is currently more than $121 billion, according to data from industry website Coinmarketcap.
Anyone who's ever studied basic Economics knows that Bitcoin is in a price bubble right now. They real question is... when is that bubble going to pop?
I sure as hell wouldn't want to be the one buying Bitcoin today, though.
Those coins haven't moved since their own creation. Satoshi may have them, may have lost them, may have destroyed them or may even be dead. Who knows. For the best of Bitcoin, those coins should not resurface... or at least not all at once!