Bitcoin a distributed, peer-to-peer digital currency that functions without the intermediation of any central authority, reached the new high. Yesterday it reached the $500 value as a consequence of recent trading surge in Asia.
This really is an amazing news, as last month this anonymous digital currency was really put to the test when the FBI seized and shut down the anonymous underground market website, Silk Road. After the shutdown, the Bitcoin value dropped close to $100, that's why this sudden price increase really is surprising.
If last month we were all under the impression the U.S. will probably never legitimize Bitcoin, this sudden explosion of its value is subsequently making the government agencies a bit more willing to support it. But as the Federal Reserve chairman Ben Bernanke revealed in a letter, the regulating of Bitcoin is not bound to happen any day soon.
