Bitcoin is booming: Value reaches $4.2k

Julie Spitzer -

Bitcoin is valued at $4,225.40, an all-time high, as of Sunday due to a strong demand in Japanese markets, reports CNBC.

Bitcoin's market value is now around $64 billion, up about $10 billion in the last week — and its value has nearly quadrupled in 2017 alone.

Japan has led the recent bitcoin global trade volume, accounting for nearly 46 percent. The U.S. dollar followed at 25 percent of the global trade volume, and Chinese yuan and South Korean won each comprised about 12 percent.

"Bitcoin is benefiting from geopolitical tensions — trading in Japan and Korea has increased significantly over the last few months," Brian Kelly, founder of BKCM, which runs a digital asset strategy, told CNBC in an email. 

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