The digital currency has shot above the $14,000 mark for
the first time -- the third big barrier it's broken in less than 24 hours.
Bitcoin has enjoyed a stunning rise this year, drawing
increasing attention from mainstream investors.
starting the year below $1,000, it hit the major milestone of $10,000 just
last week. Despite a flurry of warnings from top economists and
business leaders, its upward trajectory has continued -- albeit with a few
sharp dips along the way.
already zipped past $12,000 and $13,000 in the past 24 hours before popping
above $14,000 on Thursday in Asia. By early afternoon in Hong Kong, it was
trading around $14,200 after briefly dropping below $13,400.
currency has suffered a series of steep drops during its epic rally this year,
giving investors jarring reminders of its extreme volatility. After breaking
above $11,000 last week, it abruptly plunged by more than $2,000 before
resuming its climb.
rapid rise this year has been powered in part by expectations that established
fund managers are set to start pouring money into the virtual currency as it
gotten a big lift from mom-and-pop investors in countries like South Korea and
Japan who don't want to miss out on the prospect of further big gains.
one of many cryptocurrencies, virtual "coins" that are
"mined" by computers using complex algorithms.