The digital currency bitcoin vaulted to a new record high above $4000 on Saturday, boosted by strong Japanese demand on its way to multiplying its value fourfold this year. <\/p>\n
Bitcoin traded as high as $4,000.93, more than 7 percent higher near $3,941 in Saturday dealings, according to CoinDesk. <\/p>\n
The digital currency has now quadrupled in 2017, and is up about 40 percent in August alone. Bitcoin's market value is now around $64 billion, up about $10 billion in the last week. <\/p>\n
Bitcoin trade in Japanese yen accounted for nearly 46 percent of global trade volume, up from about a third a day ago, according to CryptoCompare. US-dollar bitcoin trade accounted for about 25 percent, according to CryptoCompare. Bitcoin trade in Chinese yuan and South Korean won accounted for about 12 percent each. <\/p>\n
Bitcoin rose in the last week, mirroring gold's climb amid a global selloff in stocks and bonds. Rising worries about North Korea's nuclear threat have sent investors flocking to perceived safe-havens and alternative assets. <\/p>\n
Analysts have also noted increased investor interest, especially from institutional investors, after bitcoin successfully survived an Aug. 1 split into bitcoin and bitcoin cash. <\/p>\n
This week, Fidelity launched a feature allowing customers to also view their Coinbase bitcoin holdings. The currency also got a boost from Goldman Sachs, which in a report released this week said it is harder for institutional investors to ignore cryptocurrencies like bitcoin. <\/p>\n
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Bitcoin vaults to new record above $4K, boosted by Japan and multiplying its value fourfold - CNBC<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The digital currency bitcoin vaulted to a new record high above $4000 on Saturday, boosted by strong Japanese demand on its way to multiplying its value fourfold this year. Continue reading