The Bitcoin Saga Continues

Good as Gold

During its first couple of years, bitcoin went through a series of bubbles and busts, ranging wildly between 30 cents and $32. But during the Cypriot financial crisis of 2012-2013, it shot up over $250, eventually settling at around $50. According to the bitcoin conversion site, the price of a single bitcoin (BTC) stands at $623. For a brief period in 2013, bitcoins were trading at around $1,250, on par with an ounce of gold at the time.

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