Bitcoin hits new record high of $11,850

The cryptocurrency was last up 2 per cent on the Luxembourg-based Bitstamp

Reuters December 06, 2017

A logo of Bitcoin is seen on an advertisement of an electronic shop in Tokyo, Japan September 5, 2017. PHOTO: REUTERS

Bitcoin powered to a record high of $11,850 on Tuesday, continuing its surge from below $1,000 at the start of the year.

'Bitcoin was explicitly designed to be digital gold'

The cryptocurrency was last up 2 per cent on the Luxembourg-based Bitstamp exchange BTC=BTSP.