The Bitcoin market cap reached US$100 billion on Friday with the digital currency pushing through the US$6,000 mark to just over US$6,100 and it has since settled to around US$5,900.
The price has rallied 15% since a low of US$5,109 on Thursday after the US Commodity Futures Trading Commission said virtual "tokens" used in initial coin offerings can come under its oversight.
Bitcoin is a digital currency created in 2009. Bitcoin offers lower transaction fees than traditional online payment mechanisms and is operated by a decentralised authority.
Capital inflow into the currency is keeping the momentum upwards. There is also the prospect of an impending split in bitcoin's block-chain. As institutional and community support for the split wanes, the original bitcoin is expected to emerge potentially stronger after any split.
Most analysts have the opinion that the digital currency will rise further (which if correct) will be good for block-chain services companies such as Digitalx Ltd (ASX: DCC).
