Bitcoin Crypto-Currency Value Rising in 2017 as Demand Grows
Three years after Bitcoin suffered a massive decline in value, the cryptocurrency is once again valued at more than $1,000 USD.
In the early days of 2017, Bitcoin is already reaching new heights as the value of the cryptocurrency rises. As of 9 AM PT on January 3, Bitcoin was valued at $1,025 U.S dollars, according to Coinbase, a level not seen since 2013.
Bitcoin's rebound to once again be worth more than $1,000 is likely being driven by multiple technical, security and geopolitical factors. The early promise of Bitcoin was to provide a distributed system that relies on the power of the many to validate and process transactions. At the core of Bitcoin is the concept of the blockchain distributed database, which has now found its way into mainstream enterprise IT. The open-source Hyperledger project which is run by the Linux Foundation, is one of the leading proponents of the wider use of blockchain, beyond just Bitcoin.
