The value of a single bitcoin rose above $300 on Jan. 26 after being as low as $241 within the previous 24 hours. Bitcoin's value steadily declined throughout 2014 after reaching a high of around $650 in June.
The increase comes days after a new bitcoin exchange, named Gemini was announced by Cameron and Tyler Winklevoss on Jan. 23. The exchange, which they plan to open within the next few months, is based in New York City and will be regulated by the state's financial regulators.
Bitcoin rapidly increased in value in the final months of 2013, going from around $100 in October 2013 to more than $1,200 in November 2013. The value of a single bitcoin briefly surpassed the value of gold on Nov. 29, 2013, reaching $1,242 compared to a single ounce of gold's $1,241.98.
Coinbase, a bitcoin startup that operates an exchange and wallet services, raised $75 million on Jan. 20. Company CEO Brad Armstrong said its investors, which include the New York Stock Exchange and Spanish bank BBVA, were not intimidated by the recent decline in bitcoin's value.
The Coinbase Blog — Coinbase Raises $75M from DFJ Growth, USAA, NYSE,...