Bitcoin hit a new high for 2015

Bitcoin is back.

At least: for 2015.

The cryptocurrency started Friday October 30 by setting a new 2015 high for its price, breaking past the $US320 level for the first time all year.

The value of bitcoin plummeted to start the year, coming after a 2014 where the price of bitcoin plummeted. The cryptocurrency was trading at as much as $US1,150 in early 2014.

In bitcoin’s brief existence it has been hailed by investors including Tyler and Cameron Winklevoss and simultaneously created concern surrounding the ease with which criminals can use the cryptcurrency.

Many Wall Street firms have expressed reservations about working with bitcoin, but are eager to implement blockchain technology into their businesses.

Still, big investors are interested in the cryptocurrency. Entrepreneur Barry Silbert this week announced a partnership between his Digital Currency Group and investors including Bain Capital Ventures, MasterCard and others to support investment in bitcoin startups. Already, it has developed a portfolio of more than 50 companies.

Over the last month bitcoin is up more than 37%:

Screen Shot 2015 10 30 at 8.18.20 AM price of bitcoin is up 37% over the month of October

NOW WATCH: Donald Trump was one of the first to be ‘too big to fail’

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.