Bitcoin Surpasses $600, Which Is Up 60 Times Over The Last Year

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Bitcoin has passed the $600 price on Monday, which is a 60-fold increase from over a year ago.  According to CoinDesk, the Bitcoin trading exchange website Mt. Gox reported that crypto-currency’s price as of Monday morning had risen above $600.  BTC, the largest Bitcoin exchange by volume, has reported a price of $640 on early Monday.  Today the U.S. Senate Committee on Homeland Security and Governmental Affairs is having a hearing to look at the currency.  There are around 12 million Bitcoins that exists today.  At a $600 price, this means that the currency now has a market value of about $7.2 billion.  About 50,535 Bitcoins have been trading every hour.

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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