Join

Enter Details

Comment on stories, receive email newsletters & alerts.

@
This is your permanent identity for Business Insider Australia
Your email must be valid for account activation
Minimum of 8 standard keyboard characters

Subscribe

Email newsletters but will contain a brief summary of our top stories and news alerts.

Forgotten Password

Enter Details


Back to log in

Bitcoin passes USD 5,000 to hit fresh all-time high

LONDON — Bitcoin has hit a fresh all-time high on Thursday, passing above the psychologically significant $US5,000 (AUD 6,400) mark for the first time in its history in early morning European trade.

By 9.20 a.m. BST (4.20 a.m. ET) the cryptocurrency is trading up by close to 6.5% on the day, hitting a value of $US5,136, as the chart below illustrates:

Bitcoin has seen its value increase by more than $US750 per coin in the last week alone, with a rally that coincides with renewed interest in the currency from investment banks. The Wall Street Journal last week reported that Goldman Sachs is looking at setting up a bitcoin trading operation and Morgan Stanley CEO James Gorman said recently that the cryptocurrency is “certainly more than just a fad.”

More follows …

Get the latest Bitcoin price here.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.