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Bitcoin Hits All-Time High as Currency Controls Drive Fear

  • Digital currency reaches $1,140.64, exceeding mark set in 2013
  • Currency, capital curbs fuel gains in China, India, Venezuela
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All-Time High: Bitcoin Delivers Many Happy Returns

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Bitcoin hit an all-time high Wednesday, according to Bloomberg data, thanks to continued adoption in China and other parts of the world where traditional currencies are tightly controlled.

The digital currency, which just turned eight years old, reached $1,140.64, which was higher than the $1,137 it hit in November of 2013. In December, bitcoin also surpassed its previous all-time high in total market capitalization, which now exceeds $16.1 billion.