Bitcoin value reaches new all-time high against the dollar, continuing upward trend

Bitcoins (Casascius)

The Bitcoin digital currency hit an all-time high Wednesday, as its US dollar exchange rate climbed past $ 32 for the first time ever. According to Bitcoin Magazine, that eclipses the currency’s previous high of $ 31.9099, reached in June 2011.

This week’s milestone, while notable, doesn’t come as a major surprise. After bottoming out at under $ 2 in 2011, Bitcon’s value has steadily risen over the past several months, as the anonymous currency has entered new markets. Last year, a French bank received clearance to operate as a Bitcoin exchange, shortly after total circulation of the currency hit 10.5 million. Sites like Reddit,, and Kim Doctcom’s forthcoming Mega service have all adopted Bitcoin payments, as well.

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