The global value of cryptocurrencies surged by more than $800bn (£631bn) in 2023 as investors continued to pile into the speculative assets despite a series of scandals, bankruptcies and tougher regulation. After losing more than half their value in the 12 months to December 2022, digital coins rebounded over the last year – with the whole sector worth roughly $1.6 trillion at Christmas. The price of Bitcoin, the most popular and valuable cryptocurrency, more than doubled, up more than 150pc over the course of the year. A single Bitcoin is now worth north of $42,000, its highest point in 18 months. Solana, another widely-traded coin, climbed more than 1000pc during 2023.
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