Alternative currencies

Greece's Supreme Court is due to rule whether to allow the extradition of a Russian cybercrime suspect to the United States to stand trial for allegedly laundering billions of dollars using the virtual currency bitcoin.

Alexander Vinnik appeared at the Athens court Wednesday amid an ongoing legal battle between the US and Russia who are both seeking his extradition.

Deputy Prime Minister Mehmet Şimşek warned investors on Dec. 13 against betting on cryptocurrencies such as Bitcoin, comparing the current Bitcoin frenzy to “tulip mania” of the 17th century.

Bulgarian police have seized enough Bitcoins to pay off a fifth of the country's national debt after the value surged by 600% in half a year, according to Daily Mail.

Officers are said to have confiscated hundreds of thousands of units of the virtual currency worth $500million from an organised crime gang in May.

Bitcoin surged past $18,000 after it began trading on its first major global exchange on Dec. 10, the latest in a series of highs that have excited some investors while leaving others nervous of a bubble.

The Bulgarian government holds bitcoin for more than $ 3 billion. They were confiscated after police actions against an organized criminal group. This is reported by Coindesk.com, one of the leading journals devoted to the cryptocurrencies.

Bitcoin plunged as much as 15 percent to below $14,500 on profit-taking on Dec. 8, capping a roller-coaster week that saw the currency hit a series of record highs and underlining concerns about its volatility.

The rate of cryptocurrency bitcoin increased by more than 23%, and for the first time in the history of auctions the threshold of 18 thousand dollars was passed, according to data from the auctions on the electronic exchange Coinmarketcap.

Bitcoin rocketed to a lifetime high well above $16,000 on Thursday after climbing some 67 percent over one week, intensifying the debate about whether the cryptocurrency is in a bubble about to burst.

Bitcoin ploughed past $14,000 to a fresh record on Dec. 7 as investors continued to pile in, triggering a warning the cryptocurrency was “like a charging train with no brakes” that would inevitably slip back.

The price of bitcoin has surged to a new all-time high of $13,200 at 11:04 GMT on Wednesday. The world's first cryptocurrency has nearly doubled in price over the past month.

Bitcoin has set several records in recent days. Last week, the digital currency hit both the $10,000 and $11,000 levels for the first time, crossing over $12,000 on Tuesday.