(NY TIMES) SAN FRANCISCO — Bitcoin has been in a bull market like few the world has ever seen.
At the beginning of the year, the price of a bitcoin was below $1,000. It hit $5,000 in October, then doubled by late November. And on Thursday, less than two weeks later, the price of a single bitcoin rose above $20,000 on some exchanges, according to Coinmarketcap.
The latest price spike has been credited to signs that Wall Street companies plan to bring their financial heft into the market.
Advertisement - story continues below
At the current cost, the value of all bitcoin in circulation is about $300 billion. To get a sense of how big that is, all the shares of Goldman Sachs are worth about $90 billion.