Society | Nov 27

Bitcoin price tops 1 mil. yen

Nov 27 (NHK) - The price of Bitcoin topped 1 million yen, or nearly 9,000 US dollars, in Japan on Sunday.

bitFlyer, a major exchange of virtual currencies, says a large number of buy orders pushed up the price.

Bitcoin was being traded at about 100,000 yen, or nearly 900 dollars, at the end of January.

The price fluctuated sharply before reaching the current level.

The convenience of trading with smartphones and low transaction fees have contributed to the spread of Bitcoin.

Experts say speculative money is pushing up the price, and people who trade Bitcoin should be fully aware of the risk of sudden price fluctuations.

Source: ANNnewsCH

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