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Bitcoin reached the $2,500 level on Wednesday, logging another record high, following an announcement from a group focusing on digital currency eased woes regarding a debate among virtual currency investors and developers.
The Digital Currency Group said they are backing certain upgrades to the bitcoin protocol, as well as the research and development of mechanical systems and place communication channels. This scaling accord is a crucial step forward for bitcoin supporters.
Bitcoin stood at $2,537.16 following it touched $2,400 for the first time earlier. The latest move signifies a gain of over $500 since last weekend when the virtual currency first touched the $2,000 threshold.
That brings the bitcoin's five-day advance to more than 40% and its surge for this month to 88% so far. The cryptocurrency has more than doubled its worth in 2017, up by over 160% following Wednesday's gain.
