Cryptocurrency surges to record high $5,000

BITCOIN surged through the $5,000 level yesterday for the first time since the launch of the unregulated virtual currency more than 8 years ago. The cryptocurrency struck a new record high of $5,183.97 around 0820 GMT according to financial data provider Bloomberg. Bitcoin, a virtual currency created from computer code, was worth only a few US cents was launched in 2009 by someone using the Japanesesounding name Satoshi Nakamoto. Unlike a real-world unit such as the US dollar or euro, bitcoin has no central bank and is not backed by any government. Just like other currencies, bitcoins can be exchanged for goods and services – or for other currencies – provided the other party is willing to accept them.