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Bitcoin Surges Past $5,000 for the First Time Amid Staggering Cryptocurrency Run

October 12, 2017

Via: TheStreet

Bitcoin smashed through the $5,000 barrier for the first time ever in early Thursday trading, extending its incredible year-to-date gains to trade at a level that is now four times the price of gold.

Bitcoin prices were marked $415, or 8.6%, higher on the Bitsmap exchange in London Thursday to change hands at an all-time high of $5,240 each before paring gains to around $5,221. So far this month, bitcoin prices have risen nearly 20% and have surged from $966.30 at the start of the year. At the current levels, a single bitcoin is now worth 4 troy ounces of gold, based on current spot prices.

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