Well over $5 billion within the last few hours have entered the Bitcoin market. Around lunchtime in the UK, the price of the cryptocurrency was hovering around $7 668. The massive inflow of money, however, boosted it to just below $8 000.
On some exchanges, the world’s top cryptocurrency in terms of market capitalisation traded above $8 000. At press time the price of Bitcoin on BitStamp, one of the oldest cryptocurrency exchanges, was $8 007.
After starting the year at $3 700 this year, Bitcoin’s price has increased by more than 116%.