Bitcoin price has soared by about 90% this year, returning to the highest point in the past three years

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According to news on November 2nd, according to foreign media reports, the price of Bitcoin has soared by about 90% this year, returning to its highest point in the past three years .

The price of Bitcoin was as high as $13,848 recently. This is the highest level since January 2018.

Bitcoin price (picture from the cryptocurrency industry website Coinmarketcap)

As shown in the figure, data from Coinmarketcap, a digital currency industry website, shows that the current price of Bitcoin is about US$13687.7 and the market value is about US$253.5 billion.

Foreign media said that many investors believe that the surge in interest in Bitcoin is related to the potential of the digital currency as an inflation hedge.

Last month, the payment platform PayPal also announced the launch of its own digital currency service, allowing people to buy, hold and sell digital currency on its website and apps. Digital currency has entered the mainstream vision.

Bitcoin is a cryptocurrency that uses blockchain as a payment system. It was invented and founded by Satoshi Nakamoto in 2009 based on a borderless peer-to-peer network using consensus active open source software. Through encrypted digital signatures, it is possible to solve electronic currency overpayments and transactions without any third-party credit institutions. Security and other issues. The supply of Bitcoin is limited to 21 million, and this number is expected to be reached around 2140.

The smallest unit of Bitcoin is “satoshi”, which is named after the rumored Bitcoin developer Satoshi Nakamoto. A satoshi is equivalent to one hundred millionth of a Bitcoin.

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