Image for The rise and rise of bitcoin

The rise and rise of bitcoin

Duration: 03:09

The term bitcoin may be familiar to many of us, but if pressed would you really be able to explain what it is and how it works?

The virtual currency, launched five years ago, can be used as a form of trading just like cash, gold or shares.

The University of Cumbria has become the first in the UK to allow some students to use the bitcoin to pay tuition fees.

But will it really revolutionise the way we pay for things, as some predict? Breakfast's Tim Muffett has been investigating.

Available since: Mon 27 Jan 2014

This clip is from

Breakfast 27/01/2014

The latest news, sport, business and weather from the BBC's Breakfast team.

First broadcast: 27 Jan 2014

Image for 27/01/2014 Not currently available on BBC iPlayer

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