News on November 5th, according to foreign media reports, as the world’s largest cryptocurrency, the price of Bitcoin broke through the $14,000 mark on Wednesday.
In the past few days, the price of Bitcoin has experienced significant fluctuations, repeatedly breaking through $14,000, but then fell back. On Wednesday, the cryptocurrency rose 3.8% to $14,265, the highest level since January 2018.
Bitcoin is the largest cryptocurrency in the world, and this cryptocurrency is known for its price fluctuations. Since the beginning of this year, the price of the cryptocurrency has risen by 90%. In contrast, the Standard & Poor’s 500 Index has gained 4.5%.
Bitcoin is an encrypted currency that uses blockchain as a payment system. It was invented by Satoshi Nakamoto in 2009 based on a borderless peer-to-peer network using consensus-active open source software. Through encrypted digital signatures, it is possible to solve the problems of electronic money such as multi-payment and transaction security without going through any third-party credit institutions.
It is reported that the supply of Bitcoin is limited to 21 million, and this number is expected to reach around 2140.
Last month, payment platform PayPal announced the launch of its own digital currency service, allowing people to buy, hold, and sell digital currency on its website and apps.
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