Bitcoin may be digital currency, but why would anyone spend it?
At this point, it’s worth it just to hang on your Bitcoins, given the extraordinary run that it’s been on. The digital currency surged past the $16,000 mark, and now trades at $16,178.38, according to Coindesk.
Remember, Bitcoin was valued at around $1,000 at the beginning of the year, but really began its big run over the last two months.
At its current rate, it may hit $17,000 before the end of the day. While critics fear there’s a bubble in the making, the currency continues to rise in value.
Update, 8:22 a.m. PT: To note Bitcoin already passed $16,000.