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Bitcoin price leaps 25% as US exchange launches

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Bitcoin

The price of Bitcoin is finally on the up again, having seen a hefty 25 per cent surge in the last 24 hours.

This is largely thanks to the opening of the USA’s first officially licensed Bitcoin exchange, as reported by IBTimes.

It’s good news for Bitcoin investors, as the rise marks a turnaround in fortunes for the previously ailing cryptocurrency.

Back in December, we reported that Bitcoin had been tagged up as the ‘worst investment of 2014’, beating out the Greek stock market and the Russian ruble for terrible investment quality.

Then we saw the value of Bitcoin plummet by 40 per cent in the first weeks of this year, dropping below $200 for the first time since 2013.

Two days ago, Bitcoin weighed in at $300, showing good health for the currency, although it’s fallen slightly since, now resting at $256.01 – that’s around £170 sterling.

Related: What is Bitcoin? The virtual currency story so far

In other jolly Bitcoin news, well-heeled US twins Cameron and Tyler Winklevoss are gearing up to launch another Bitcoin exchange on American soil, which could help draw in new investors.

If the Winklevoss name rings a bell, that’s because they were the pair that became embroiled in a bitter legal dispute with Mark Zuckerberg over Facebook’s intellectual property rights.

Bitcoin also got a boon from Microsoft earlier this year as the Redmond-based firm enabled Bitcoin transactions as payment for its Windows and Xbox online stores.

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