Bitcoin tops $2,500 USD

Bitcoin has made headlines across the globe once more following its latest rally which saw the coin briefly surpass $2,500 USD (approx. $3,350 CAD) in value for the first time ever.

The price of a bitcoin currently stands at $3,356.65 CAD, up 10% in the last 24 hours alone, as of 5pm, ET, Wednesday (according to data from CoinDesk).

This recent surge was reported on by major news corporations such as the BBC, CNBC and Reuters, respectively, in widely shared web articles published earlier today; the world is slowly beginning to take note, it seems.

Policy changes in Japan and elsewhere in Asia have made it easier to trade in cryptos and of course, when it comes to price, interest generates its own momentum.

Indeed, Arstechnica lead with the mindboggling fact that if you’d have bought $1,000 USD of bitcoin back in 2010, you’d be worth roughly $35 million USD today.



Elsewhere in the crypto market, Ethereum has again shared in its rival bitcoin’s glory with the price of a single ETH coin rising 12.5% in just three days to reach a high of $203.30; this represents an impressive 2,367% rise year-to-date, an ascension even bitcoin can’t compete with.

Ether runs on an underlying technology called Ethereum, which is a different blockchain to the one that underpins bitcoin; the price of one is currently $235 CAD

Litecoin too has enjoyed an impressive run over the past few days, soaring roughly 8% to reach a high of around $50 CAD, having previously been stagnant for some time; at time of press, the price of a litecoin is $45 CAD.

The market cap for all cryptocurrencies stands at $85,925,359,180 USD (a little over $115 billion CAD!) according to data from coinmarketcap; bitcoin represents 47% of that number.