Bitcoin breaks all-time high, as cryptocurrency smashes $11,900

The world’s most valuable digital currency set another record on Tuesday, hitting $11,900 as of 8:00 GMT. Bitcoin has been smashing symbolic price barriers every few days, slightly retreating at times, and then accelerating to reach new heights.
Last week, the virtual currency broke through both the $10,000 and $11,000 levels for the first time, blasting past $11,700 on Sunday.
Bitcoin’s rise in value in 2017 is unprecedented. It started from below $1,000 on January 1 and is now up more than 12-fold for the year.

The cryptocurrency has been growing at a dizzying pace over the past month, having almost doubled in price since November 1. Analysts’ warnings of bitcoin being a “dangerous bubble” have not stopped the rally.

Bitcoin's market capitalization is now over $199 billion, making it worth more than major US companies like Boeing and General Electric. Its market cap is also bigger than the gross domestic products (GDP) of Greece and New Zealand.

If bitcoin were a country, it would be the 50th richest nation in the world.