Bitcoin is continuing to skyrocket, as it surpassed the $16,000 mark in less than two days following a 20 percent plunge last week, CNBC reports.
As of 10:15 a.m. Thursday, one bitcoin was valued at $17,475, representing a $10,406 increase since last month, according to Coinbase, a cryptocurrency exchange. At one point Thursday morning, its value exceeded $19,000.
This latest surge began Tuesday night when it topped $12,000 as the digital currency recovered from a 20 percent drop the week prior. Bitcoin now has a market value of more than $270 billion and would rank among the 20 largest stocks in the S&P 500, according to CNBC.
Bitcoin began the year below $1,000 but its gains have sparked investor interest, as well as concern from international governments — earlier this week, the U.K. and European Union announced plans to regulate cryptocurrencies amid concerns of money laundering, according to Business Insider.
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