Bitcoin reaches new milestone

Bitcoin price exceeded $70,000 on Tuesday, according to Binance data.

At 1:07 a.m. Moscow time (10:07 pm GMT on October 28), bitcoin reached this milestone before slowing down to $69,812 by 1:49 am Moscow time (10:49 p.m. GMT on October 28).

Bitcoin, a cryptocurrency invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto, operates as a decentralised digital currency.

It functions without a central bank or single administrator and can be transferred directly between users on the peer-to-peer bitcoin network without intermediaries.

Attribution: TASS

Subediting: M. S. Salama