Bitcoin Market Cap Approaches $100 Billion as Price Hits $5800

The BTC/USD exchange rate has skyrocketed about 20% over the past 24 hours alone.

After breaking the latest record high of $5000 yesterday, the price of Bitcoin continues to rise and it is now trading at a staggering level of $5800. This marks a rise of 100% over the low point of $2900 the price hit about a month ago after the Chinese exchange ban.

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The record high BTC/USD exchange rate brings the total value of the Bitcoin blockchain nearer to a new milestone – $100 billion. To put this figure into perspective, at $96.6 billion the market cap of Bitcoin is now almost 20% above that of PayPal (NASDAQ: PYPL) but still well below the market cap of Visa (NYSE:V) at $247 billion.

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