rocket surging upwards take off missile submarine chinaIt's a good time to own bitcoin. China Photos/Getty Images
Bitcoin has broken $700!
The digital currency has gone on a wild streak over the weekend, peaking above $700 on Monday, and is currently hovering around that point - $700.58 as of writing.
In the space of a month, bitcoin's value has jumped by more than 30% - from around $450 (£317.38) in mid-May to the $700 mark it is hovering around today.
This is the highest bitcoin's price has been in around two years - it last broke the $700 mark back in February 2014, when it was trending downwards following all-time highs of more than $1,100.
Bitcoin is infamously volatile. This time last year, it was just a third of its current value, around $230. But it has slowly regained value since, gathering pace over the last few weeks.
The price surge comes ahead of a "halvening" or "halving" later this month . This is a reduction in the amount of bitcoins produced by mining - the process whereby computers dedicate processing power towards creating new bitcoin. When it hits, the amount of bitcoin being introduced in a set time period will halve. As you'd expect when supply is about to be constrained, the price is spiking.

Here's the price of bitcoin over the last month:coindesk bitcoin month chart june 13 surge nearly 700 usdCoinDesk

And here is the price of bitcoin since its inception:

bitcoin price all time coindesk history june 13 2016CoinDesk