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.