Bitcoin trades above $5,000 for first time ever

Published: October 12, 2017
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A Bitcoin and Dollar notes are seen in this illustration picture taken September 27, 2017.PHOTO: REUTERS

A Bitcoin and Dollar notes are seen in this illustration picture taken September 27, 2017.PHOTO: REUTERS

Bitcoin smashed through the $5,000 barrier for the first time ever on Thursday, jumping as much as 7 per cent to chalk up its biggest daily rise in over two weeks.

Bitcoin, the original and still the biggest cryptocurrency, has been on a tear recently, rallying nearly 75 per cent in barely a month.

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It has chalked up a more than fivefold increase in price since the start of the year.

Earlier this week, Russia announced that it will block access to websites of exchanges that offer crypto-currencies such as Bitcoin, calling them “dubious”.

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