One Bitcoin is now worth over R133 000

dollars money bitcoin cash register jason costanza flickr

While you may be smarting over the current Dollar/Rand or Euro/Rand exchange rate, spare a thought for those wanting to purchase a single Bitcoin.

The price of the digital cryptocurrency has this weekend surged to US$9602 — or just under R133 800 at the time of writing.

That means that a single Bitcoin could buy a small family hatchback, around 130 return flights between London and Cape Town, or a Big Mac meal for every meal of the day for nearly three years.

The latest record-high price comes after the currency gained more than 17% this week, after it broke the US$9000 barrier on 26 November.

At present, the total cryptocurrency market cap sits at around US$300-billion or R4.17-trillion — this weekend marks the first breach of this particular barrier. Bitcoin accounts for more than 50% of this.

It’s also taken little over three weeks for the market cap to grow by a third, with US$200-billion first hit on 3 November.

Its nearest challenger, Ethereum, has a market cap of US$46-billion, trading around US$475 or just below R6500. It has seen a 31% spike in value over the past week.

Feature image: Jason Costanza via Flickr (CC BY 2.0, resized)

Andy Walker, former editor


Sign up to our newsletter to get the latest in digital insights. sign up

Welcome to Memeburn

Sign up to our newsletter to get the latest in digital insights.