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After hitting $10,000 yesterday, Bitcoin raced past $11,000

The value of the digital currency has since fallen below the $11,000 mark.

Headshot of Roger Cheng
Headshot of Roger Cheng
Roger Cheng Former Executive Editor / Head of News
Roger Cheng (he/him/his) was the executive editor in charge of CNET News, managing everything from daily breaking news to in-depth investigative packages. Prior to this, he was on the telecommunications beat and wrote for Dow Jones Newswires and The Wall Street Journal for nearly a decade and got his start writing and laying out pages at a local paper in Southern California. He's a devoted Trojan alum and thinks sleep is the perfect -- if unattainable -- hobby for a parent.
Expertise Mobile | 5G | Big Tech | Social Media Credentials
  • SABEW Best in Business 2011 Award for Breaking News Coverage, Eddie Award in 2020 for 5G coverage, runner-up National Arts & Entertainment Journalism Award for culture analysis.
Roger Cheng
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When will the Bitcoin bubble burst?

The value of the digital currency topped $11,000 per Bitcoin early Wednesday, less than 24 hours after hitting $10,000. It's the fastest gain in valuation for any investment, ever, fueling fears that there's a lot of irrational enthusiasm for the currency, which still isn't widely accepted. 

Bitcoin has come down from its high of $11,377.33 earlier today, and is now trading at $10,825.21, according to Coindesk.com. 

Bitcoin was valued at $1,000 at the beginning of the year, but has seen a tremendous run over the last few months. It's become less a form of currency than something investors are looking to buy -- similar to gold or oil. 

Nasdaq will let you trade Bitcoin futures starting next year, according to The Wall Street Journal. 

About the Author

Headshot of Roger Cheng
Former Executive Editor / Head of News
Former Executive Editor / Head of News

Roger Cheng (he/him/his) was the executive editor in charge of CNET News, managing everything from daily breaking news to in-depth investigative packages. Prior to this, he was on the telecommunications beat and wrote for Dow Jones Newswires and The Wall Street Journal for nearly a decade and got his start writing and laying out pages at a local paper in Southern California. He's a devoted Trojan alum and thinks sleep is the perfect -- if unattainable -- hobby for a parent.