Bitcoin’s value tops $1,000 for first time.
One Bitcoin Now Worth More Than $1K
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Nov. 27 2013 7:11 PM

One Bitcoin Now Worth More Than $1K

A man uses the world's first Bitcoin ATM in Vancouver.

Photo by David Ryder/Getty Images

The value of Bitcoin hasn’t always been so positive, but of late its value has surged topping $1,000 for the first time in its existence on Wednesday. The crypto-currency reached its new high as it “becomes easier to use as a way to pay and easier to access for investors looking for an alternative to gold,” USA Today reports. Confidence in the volatile currency was also boosted, according to the BBC, following a Senate committee hearing this month, after which the committee referred to virtual currencies as a “legitimate financial service.”

While Bitcoin’s rise is good news for those who hold them, it will surely evoke mixed feelings for James Howells. The Welsh man told the Guardian that in 2009, when Bitcoins were worth nearly nothing, he created 7,500, but mistakenly threw out the hard drive that contained the wallet, which, at the moment, would be worth some $7.5 million.

Elliot Hannon is a writer in New York City. Follow him on Twitter.

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