The price of the digital currency Bitcoin rose to a record high on Sunday, trading at $125,245 on the cryptocurrency exchange.
Previously, Bitcoin had reached a peak of $122,445 on 14 July this year. The latest increase marks the highest recorded value of the cryptocurrency to date.
Bitcoin operates as a decentralised cryptocurrency system based on blockchain technology. Any participant in the system can mine Bitcoin. Its popularity has grown significantly in recent years. However, the number of Bitcoins in circulation remains limited, with most already mined.
Launched in 2009, Bitcoin was initially valued at $0.09. By 2011, its price had risen to $26.90. At the beginning of 2014, it reached $1,238 before falling sharply to $315.21 by the end of that year.
A rapid increase occurred during 2017–18, with the price reaching $20,000 in December 2018. This was followed by a decline to $6,635 in December 2019. In December 2021, Bitcoin exceeded the $49,000 mark for the first time. Its price dropped again in December 2022 to $18,000, before reaching $77,000 in November 2024.
