Bitcoin, the still-mysterious virtual currency that is created through digital “mining,” continues to rise in value. At current exchange rates, 1 bitcoin is valued at $3,505.00.
The spike above $3,500 puts the price of a single bitcoin at a record high, with the value of bitcoin pulling up newer, smaller cryptocurrencies as well, Reuters reported. Bitcoin recently split into bitcoin cash; people who own their private bitcoin keys can use them to spend bitcoin cash.
This week on “Pat & Stu,” the guys wondered how long bitcoin can continue to spike before crashing. Stu Burguiere noted that if you had invested in bitcoin in 2015, you would have made around 16 times the money you invested. In comparison, today’s savings accounts yield almost nothing in interest thanks to low interest rates.
Jeffy Fisher thought he knew how to predict the crash of bitcoin: “If you want to know when bitcoin is going to crash, ask me when I put $2 in.”