When will the Bitcoin bubble burst?
The value of the digital currency topped $11,000 per Bitcoin early Wednesday, less than 24 hours after hitting $10,000. It’s the fastest gain in valuation for any investment, ever, fueling fears that there’s a lot of irrational enthusiasm for the currency, which still isn’t widely accepted.
Bitcoin has come down from its high of $11,377.33 earlier today, and is now trading at $10,825.21, according to Coindesk.com.
Bitcoin was valued at $1,000 at the beginning of the year, but has seen a tremendous run over the last few months. It’s become less a form of currency than something investors are looking to buy — similar to gold or oil.