Money Bitcoin vaults to new record above $4K, boosted by Japan and multiplying its value fourfold

11:50  13 august  2017
11:50  13 august  2017 Source:   CNBC

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The digital currency bitcoin vaulted to a new record high above 00 on Saturday, boosted by strong Japanese demand on its way to multiplying its value fourfold this year.

The digital currency bitcoin vaulted to a new record high above 00 on Saturday, boosted by strong Japanese demand on its way to multiplying its value fourfold this year.

 © Bloomberg

The digital currency bitcoin vaulted to a new record high above $4000 on Saturday, boosted by strong Japanese demand on its way to multiplying its value fourfold this year.

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Buoyant bitcoin stirs crypto-bubble fears

  Buoyant bitcoin stirs crypto-bubble fears <p>Bitcoin and other "cryptocurrencies" are big money, virtually as big as Goldman Sachs and Royal Bank of Scotland combined.</p>The price of a single bitcoin hit an all-time high of above $3,500 this week, dragging up the value of hundreds of newer, smaller digital rivals in its wake. Now some investors fear a giant crypto-bubble may be about to burst.

The digital currency bitcoin vaulted to a new record high above 00 on Saturday, boosted by strong Japanese demand on its way to multiplying its value fourfold this year. Bitcoin traded as high as $ 4 ,000.93, more than 7 percent higher near ,941 in …

Bitcoin vaults to new record above $ 4 K , boosted by Japan and multiplying its value fourfold . The greenback rose to an early high of Y109.403 against the Japanese Yen Friday morning, but has since eased back to around Y109.025.

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Bitcoin traded as high as $4,000.93, more than 7 percent higher near $3,941 in Saturday dealings, according to CoinDesk.

The digital currency has now quadrupled in 2017, and is up about 40 percent in August alone. Bitcoin's market value is now around $64 billion, up about $10 billion in the last week.

Bitcoin trade in Japanese yen accounted for nearly 46 percent of global trade volume, up from about a third a day ago, according to CryptoCompare. US-dollar bitcoin trade accounted for about 25 percent, according to CryptoCompare. Bitcoin trade in Chinese yuan and South Korean won accounted for about 12 percent each.

Bitcoin rose in the last week, mirroring gold's climb amid a global selloff in stocks and bonds. Rising worries about North Korea's nuclear threat have sent investors flocking to perceived safe-havens and alternative assets.

Japan's latest Kit Kat is medicine flavour

  Japan's latest Kit Kat is medicine flavour This is how Japan supports its World Cup football team and TV broadcasts, believe it or not.Every serving of the limited-edition release that graces the palette is 2.1 percent throat lozenge powder. Nestle says the ground cough drop powder is kneaded into the bar's white chocolate layers, creating a "fresh and invigorating flavour.

Bitcoin vaults to new record above $ 4 K , boosted by Japan and multiplying its value fourfold . The value of currencies may fluctuate and investors may lose all or more than their original investments. Risks also include, but are not limited to, the potential for changing political and/or

Bitcoin vaults to new record above $ 4 K , boosted by Japan and multiplying its value fourfold . The value of currencies may fluctuate and investors may lose all or more than their original investments. Risks also include, but are not limited to, the potential for changing political and/or

Analysts have also noted increased investor interest, especially from institutional investors, after bitcoin successfully survived an Aug. 1 split into bitcoin and bitcoin cash.

This week, Fidelity launched a feature allowing customers to also view their Coinbase bitcoin holdings. The currency also got a boost from Goldman Sachs, which in a report released this week said it is harder for institutional investors to ignore cryptocurrencies like bitcoin.

That said, bitcoin's future is still uncertain. The digital currency could potentially split again in November, when the second phase of an upgrade proposal called Segregated Witness is implemented.

Chris Burniske, author of the upcoming book, "Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond," also noted a sharp pullback in price would not be surprising, given bitcoin's rapid surge.

He noted on Twitter that upticks in the bitcoin price and Google searches have historically led to price corrections.

Bitcoin's offshoot, bitcoin cash, traded little changed near $323, according to CoinMarketCap.

Another digital currency, ethereum, traded nearly 5 percent higher near $315.

Japan launches satellite for advanced GPS operation .
Japan on Saturday launched an H-2A rocket carrying a geo-positioning satellite into orbit after a week-long delay, the government said. The launch of Japan's third geo-positioning satellite is part of its plan to build a version of the U.S. global positioning system (GPS) to offer location information used for autopiloting and possible national security purposes.The government postponed the launch a week ago because of a technical glitch.

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