Cryptocurrency: Bitcoin hits three-year high as investors jump in

By Justin Harper
Business reporter, BBC News

Publishedduration34 minutes agoimage copyrightGetty Images

Bitcoin, the world's best-known cryptocurrency, has jumped above $17,000 (£12,800) to hit a three-year high.

The digital currency has suffered plenty of wild price swings since it was launched in 2009.

But investors have been flocking to cryptocurrencies during the pandemic volatility on global stock markets.

However, experts have cautioned about viewing it as a "safe haven".

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On Tuesday, Bitcoin climbed more than 4% to $17,492, its highest level since December 2017.

Some analysts said the Covid-19 pandemic has encouraged investors to reassess the long-term outlook for Bitcoin and other cryptocurrencies.

But there are still concerns about the fraudulent trading in cryptocurrencies following a succession of high-profile hacks.

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