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Bitcoin price news – today’s value in USD and GBP amid crunch time for the BTC cryptocurrency

Bitcoin's value soared to incredible highs in December but has since been slumping

BITCOIN is the world's leading cryptocurrency, with its performance shaking up the financial markets.


 A new report warns central banks should carefully weigh the risks before introducing virtual currencies using the technology that enables bitcoin
AP:Associated Press

What is Bitcoin worth today?

At 11.25am on October 16, 2018, one bitcoin was trading for around 4,877.29 Pound sterling and 6,435.01 USD.


Coinrail said 30 per cent of its coins had been stolen, with 70 percent of its coins moved to a more secure "cold wallet", which can transfer coins into a platform that is not connected to the internet.

They did not reveal the value of the theft, but Yonhap News cited industry sources who claimed that hackers stole 40billion won - £27.7million - worth of currency.

The announcement has sent Bitcoin plummeting from more than $7,500 (£5,586) before the weekend to $6,780 (£5,050)  - while other digital currencies also recorded large losses.

What is Bitcoin?


Individual Bitcoins are created by computer code.

The total value of all Bitcoin in existence is now more than £112billion.



You can set up a virtual wallet website like Blockchain to store,  keep track and spend your digital money.


To find merchants that accept Bitcoin in the UK click here.



How do Bitcoins work?



For each problem solved, one block of Bitcoin is processed.

In addition, the miner is rewarded with new Bitcoin.


There are currently about 16 million in existence.



This is called a "Satoshi", after the founder.




Man named Satoshi Nakamoto denies he is the creator of Bitcoin