Now 1 Bitcoin buys you about 30 ‘MAGA’ hats
Bitcoin is on the up and up.
To put that price into perspective, at this time last year one Bitcoin was worth about $400. The more-than-tripling in value coincides with Donald Trump’s election, which pushed people into alternative currencies. (It also helps that the American dollar is still going strong.)
As CoinDesk noted, this is an “all-time high” for the cryptocurrency, which saw a big increase at the beginning of the year before falling off and then rebounding — with a vengeance.
The currency had dropped in March when the Winklevoss twins, entrepreneurs Tyler and Cameron, attempted to create an exchange-traded fund for Bitcoin. The SEC shut that down, and Bitcoin is clearly doing just fine.
One Bitcoin: That’s a lot of light blue “Make America Great Again” hats from Trump’s online gift shop.