“No weird fish topping or anything like that,” he wrote.
With each Bitcoin fetching less than a cent at the time, the order was worth about $41. Today, it would be valued at about $1.4 million (1.08 million euros).
As of Friday, a single Bitcoin traded at around $135, with the currency nearing $147 earlier in the week — up from about $20 at the start of February. It’s a stratospheric jump some claim has been fuelled by Cypriots and Russians seeking to invest their euros elsewhere during Cyprus’s banking crisis, stoking fears that a new online bubble might soon burst.
“It’s completely irrational,” said Yannick Naud, a portfolio manager at the London-based Glendevon King Asset Management firm, who has seen an increase in client queries about Bitcoins. “As an investor you can’t put any underlying value on the Bitcoin itself.”