The Washington Post

Bitcoin price reaches a record high for the first time since April

Price of bitcoin on Mt. Gox. (

The price of bitcoins rose to $267.40 on Tuesday, setting a new all-time record on Mt. Gox, the largest Bitcoin exchange. This is the first time the cryptocurrency has set a price record since the price reached $266, and then imploded, in April.

The new record high appears to be driven in part by surging demand for the currency in China. The volume of yuan-to-bitcoin trading in recent weeks on the leading Chinese exchange, BTC China, has been near record highs. That's very different from Mt. Gox, where trading volume in recent weeks has been much lower than it was in April. This suggests that Chinese speculators may be playing a larger role in the current appreciation than they did during the previous bull market in April.

Prices on Mt. Gox tend to be higher than the prices on other dollar-based exchanges. The spread may reflect the fact that Mt. Gox users have struggled to withdraw dollars from the Japan-based exchange.

Interestingly, the price gap between Mt. Gox and the second most popular exchange, Bitstamp, has narrowed somewhat in recent weeks. At publication time, bitcoins were selling for $254 on Bitstamp, a 5 percent difference.

More reading

When will the people who called Bitcoin a bubble admit they were wrong?

Show Comments
Most Read
DJIA -1.29%
NASDAQ -3.25%
Last Update: 02/06/2016(DJIA&NASDAQ)



Success! Check your inbox for details.

See all newsletters

Close video player
Now Playing

To keep reading, please enter your email address.

You’ll also receive from The Washington Post:
  • A free 6-week digital subscription
  • Our daily newsletter in your inbox

Please enter a valid email address

I have read and agree to the Terms of Service and Privacy Policy.

Please indicate agreement.

Thank you.

Check your inbox. We’ve sent an email explaining how to set up an account and activate your free digital subscription.