Bitcoin reaches the symbolic $10,000

Continuing its rise, Bitcoin has seen its value multiplied by ten since the beginning of 2017. Many investors are investing in it.

Bitcoin exceeded the 10,000 dollars on Tuesday morning, a level never reached so far. By mid-October, it was still trading at about $5,000. In total, the value of bitcoin has increased tenfold since the beginning of the year.

Bitcoin is what we call a virtual currency. It can be purchased and sold via online platforms. Created in 2009 by a group of anonymous developers, it was only worth a few cents. The particularity of the bitcoin is that its price is independent of any central bank: all transactions are verified by the "nodes" of the network, i. e. the cryptographic users' computers.

It is thanks to this system, which is based on so-called "blockchain" technology, that payments in bitcoin are secured. All transactions are recorded, under pseudonym, in a public registry. Bitcoin is not the only cryptographic currency that exists on the Internet, but it is the most popular and lucrative example.

The growth of Bitcoin is not without risk. The Bitcoin has experienced several scandals. The online trading platform Mt. Gox, which accounted for 76% of bitcoin trade in 2013, eliminated the equivalent of 350 million euros. His boss, Frenchman Mark Karpelès, is currently being tried in Japan on suspicion of personal enrichment. The insolent success of
Bitcoin has also led to the creation of many cryptocurrencies, which are in fact online scams. Above all, the price of bitcoin is unstable. In November, the European Securities and Markets Supervisory Authority (Esma) warned of the risks associated with raising funds in cryptocurrencies. Since its creation, Bitcoin has experienced many spectacular crashes, and may continue to do so in the future.

Nevertheless, Bitcoin has attracted many investors who have stepped up its price and is the subject of a media frenzy. Many articles have been devoted to people who have become millionaires for betting on bitcoin before anyone else. Beyond these unusual stories, bitcoin is beginning to establish itself as a classic means of payment. More than 100,000 websites, such as PayPal or Expedia, accept it.