The popular cryptocurrency bitcoin began 2017 by climbing above the $1,000 level for the first time in three years. Bitcoin is currently trading around $1,020.
Bitcoin’s price rose steadily in 2016, appreciating about 137 percent over the last 12 months, CNBC reports. Bitcoin outperformed all central-bank issued currencies last year, according to the BBC.
Cryptocurrency experts predict the price of Bitcoin will continue to rise in 2017 as more people use the digital currency.
In late 2013, Bitcoin soared to above $1,100. It then fell to below $400 following a hack of a virtual currency exchange in which numerous coins were stolen. Bitcoin’s price has been rising since 2015.