Bitcoin Exchange Rate Reaches New All-Time High

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15/05/2017 09:47 WIB

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Bitcoin Exchange Rate Against the US Dollar, Period May 16, 2012 - May 15, 2107

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Bitcoin Exchange Rate Against the US Dollar, Period May 16, 2012 - May 15, 2107

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Bitcoin's exchange rate hit a new all-time high of US$1,820 (equivalent to Rp24.22 million) on Thursday (May 11th). This figure surged more than 91 percent from its position at the end of 2016, which was US$968.09. However, at the end of last week, the Bitcoin exchange rate closed down 7.1 percent to US$1,691.8.

Bitcoin is an electronic currency that can be used for transactions over the internet. Similar to real money, this digital currency can be used for online purchases and transfers between accounts via a Bitcoin wallet.

Although it has become a widely used payment method in the digital world, the existence of the virtual currency Bitcoin, first introduced in 2009 by Satoshi Nakamoto, still sparks debate and controversy. Furthermore, it is not yet accepted as legal tender in many countries, including Indonesia.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."