(Reuters file illustration picture)NEW YORK: Bitcoin surpassed US$10,000 for the first time, bringing this year’s price surge to more than 10-fold even as warnings multiply that the largest digital currency is an asset bubble. There is no agreed authority for the price of bitcoin, and quotes can vary significantly across exchanges. Bloomberg publishes a price that draws on several large bitcoin trading venues. The rising profile of digital currencies even saw bitcoin feature in the US senate confirmation hearing Tuesday for Federal Reserve chairman nominee Jerome Powell, who is a current board member. The total market cap of digital currencies now sits north of $300 billion, according to data on Coinmarketcap.com’s website.

Source: Bangkok Post November 29, 2017 03:45 UTC