Bitcoin hits $11K

June 24, 2019

Bitcoin's value is on a kick recently, as it soared above $11,000 this morning, a 15-month high for the cryptocurrency, according to a report by CNBC.

The cryptocurrency's value has been steadily rising since February. This recent burst of energy may be due to Facebook's announcement of its new cryptocurrency Libra.

"The price surge is due to two major factors, one is an increasing consensus among the investment community that bitcoin is a legitimate store of value for the digital age, and two Facebook's Libra cryptocurrency launch has forced every CEO to take crypto seriously," Jehan Chu, co-founder of Kenetic Capital, a blockchain investor, said in the report.

Topics: Bitcoin

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