Bitcoin Is Exploding And Just Hit More Than A 3-Year High

The cryptocurrency bitcoin just broke the $1,000 mark on Monday. Trading at $1,021, according to CoinDesk data, means the currency has hit more than a three year high.

Bitcoin hasn’t seen this level since November 2013.

According to Bobby Lee, the chief executive at BTC China, one of the world’s largest bitcoin exchanges, speaking to CNBC, “We are seeing the aftermath of zero interest rates run amok. So bitcoin is a healthy reminder that we don’t have to hold on to dollars or renminbi, which is subject to capital controls and loss of purchasing power. Rather it’s a new asset class.”