The price of bitcoin has reached a new all-time high of $6,306.58 on Sunday just eight days after the previous record was reached at $6,183 on October 21.
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Bitcoin has risen more than 500 percent on the year, having ascended from just below $1,000 on January 1st.
Nevertheless, the price of bitcoin has declined slightly, trading at $6,171.89 at press time.
Statistics from Google Trends suggests queries for “bitcoin” and “bitcoin price” are approaching all-time highs.
Some in the bitcoin community have deemed this week International Bitcoin Week after the slew of high profile business leaders and investors have commented on the cryptocurrency.
Jamie Dimon, CEO of JPMorgan Chase, after calling bitcoin a “fraud,” extended his criticism calling investors in the technology “stupid.”
Ajay Banga, CEO of Mastercard, publicly denounced cryptocurrencies like bitcoin, calling them “junk” if they lack government backing.
Saudi Prince Al-Waleed bin Talal said bitcoin will “implode” and called it “Enron in the making.”
Billionaire investor Warren Buffett has publicly denounced bitcoin as well as initial coin offerings (ICO’s) and called the cryptocurrency a “real bubble.”
“Buffett ends a few weeks where Jamie Demon, Ajay Banga and the Prince of Saudi Arabia have attacked bitcoin. Notice what they all have in common? They are beholden to the fasco-communist crony rigged market system, and like to echo the establishment’s narratives, often without thinking. They don’t understand money, or economics, the causes of the business cycle, or even the source of innovation itself. And, yes, Warren Buffett may be one of the best value investors of all-time, but he is completely ignorant on money,” said Jeff Berwick, founder of The Dollar Vigilante who recommended bitcoin at $3.00 in 2011.