A lot of people were surprised when Bitcoin’s price surged to $10,000 last week—a more than tenfold increase since the start of the year.

But this week Bitcoin’s rally has actually accelerated.

Bitcoin’s price passed $12,000 yesterday.

This morning, it surged past $15,000.

As I write this, one bitcoin is worth about $15,200.
The astonishing increase means that all bitcoins in circulation are now worth around $250 billion.
It’s not clear why Bitcoin’s price is rising so quickly.
Over the last year, the currency’s popularity has been buoyed by a larger phenomenon of initial coin offerings—sales of cryptocurrencies that compete with bitcoins.

For many people, the easiest way to acquire these alternative cryptocurrencies is to first buy some bitcoins from a bitcoin exchange, then trade those bitcoins for another currency.
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