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Bitcoin sets a new world record of $2,000 per coin

Bitcoin is the first decentralized digital currency that can be sent over the internet.

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The popularity and accessibility of Bitcoin have significantly increased over the past few years, and naturally, that drove the price to new record-breaking heights.

According to a CoinDesk data, Bitcoin was trading for almost $2,200 in the early hours of Monday morning, May 22, setting a new record after breaking the $2,000 barrier over the weekend. With this new increase, the total market capitalization of Bitcoin reached an impressive $32.92 billion.

Possible factors for the new record value registered the past few days can be attributed to the ever-growing worldwide demand for digital currency, new more tolerant regulations in the Asian markets (such as China and Japan), as well as all the hype and exposure that have been placed lately on digital currencies.

Bitcoin has first achieved the amount of $1,000 per coin back in 2013, but due to a combination of factors, the value dropped significantly.

Bitcoin was trading for almost $2,200 in the early hours of Monday morning, May 22, setting a new record, after breaking the $2,000 barrier over the weekend. (Source)

Bitcoin is the first decentralized digital currency that can be sent over the internet. Compared to other alternatives, Bitcoins have a number of advantages such as the ability to transfer them over the net without going to the banks or clearinghouses, lower fees, as well as the possibility to use them in any country with no prerequisites or arbitrary limits.

Bitcoins are being mined by programmers using powerful computers to solve complex math problems, and when they succeed, they earn more Bitcoins as a reward.

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The number of Bitcoins is not unlimited, in fact, their anonymous creator put 21 million Bitcoins in the virtual ground. Since 2009, nearly half of them have been mined and put into circulation. But with each new batch of coins that’s released, the program’s code automatically makes it harder to solve the next problem, thus timing out the supply.

With an international experience in research and analysis, Magdalena joins the team of Born2Invest as the new in-house head of product research and financial analysis as well as a contributor to the website. She obtained her bachelor degree in Business and Economics in her hometown Skopje-Macedonia, and a master degree in Electronic Business Management. As a talented and dedicated student, Magdalena had the opportunity to work abroad in the USA and Mexico complementing her curriculum with valuable skills and know-how, while being part of some prestigious companies in her professional career. With her love for reading and writing, she is one creative individual with a strong opinion on current developments and trending topics from business and financial point of view.

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