Bitcoin

Bitcoin value jumped, thanks to Facebook

Bitcoin
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The value of Bitcoin soared by more than 10% over the weekend, hitting $11,247.63 on Sunday - its highest price since March 2018.

Last week, Facebook announced that it plans to launch a new digital currency called Libra in 2020.

The crypto-currency would enable people to make payments with the currency via its own apps, as well as on messaging service WhatsApp.

Firms such as Uber and Visa are also likely to accept it in future, it said.

But there have been concerns about how people's money and data will be protected, as well as over the potential volatility of the currency.

Facebook said Libra would be independently-managed and backed by real assets, and that paying with it would be as easy as texting.

Bitcoin price surges over $8,000

Bitcoin
Getty Images

In case you missed it - today the crypto-currency Bitcoin saw its value surge to over $8,000.

On top of that, the digital currency has seen its value jump by over 60.8% in the last month.

The price of Bitcoin reached its peak in November 2017, when it hit $19,000, after which it began to fall steadily.

In December it fell to below $5,000 for the first time since its peak.

No one knows exactly why the virtual currency has seen its value suddenly surge, but Tech Crunch has some theories, if you're interested.