November 29, 2017 / 5:49 AM / 2 months ago

Bitcoin hits record high of $10,690.16 on BitStamp

SINGAPORE, Nov 29 (Reuters) - Virtual currency bitcoin rose to an all-time high above $10,690 on trading platform BitStamp on Wednesday, extending its gains for the day to more than 5 percent.

Bitcoin climbed above the $10,000 mark for the first time on Wednesday although it had already scaled that big figure earlier on other, albeit smaller, platforms.

It has increased more than 10-fold so far this year, posting the largest gain of all asset classes, on expanding financial and mainstream use.

Created in 2009, bitcoin uses encryption and a blockchain database that enables the fast and anonymous transfer of funds outside of a traditional centralised payment system. (Editing by Sam Holmes)

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