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The total value of the digital currency bitcoin transcended past the $10 billion mark. The value of the currency saw a big rise last weekend.
The value of one bitcoin was approximately 640$ on Monday morning, about $100 more than it was the Friday before. The total value of all bitcoins accumulated is now approximately $10,8 billion. This is, however, not a record. At the end of 2013 the bitcoin had its first big peak, with the value of one bitcoin passing $1,100 and a total marketable value of almost $14 billion.
The main reason of the rise of the value is allegedly due to big interest in the coin from China. Approximately 95 percent of all bitcointransactions originate from China. The bitcoin is used there to get around certain checks on the capital movements. The bitcoin is also an alternative on the yuan, which has depreciated lately.
The more bitcoins are generated, the slower the process of the mining of new bitcoins. There are over 15 million bitcoins circulation at this moment, and this could potentially increase to 21 million. However, this will take over ten years to be reached.