Surging Bitcoin breaks through $1,000 barrier

The value of Bitcoin surged above $1,000 on Monday as the digital unit continues a dizzying rise that made it the best-performing currency of 2016.

Its value has more than doubled in the last year and it was trading at around $1,024 in afternoon European trading on Monday, after breaking through the $1,000 mark on Sunday.

It is now within reach of its historic high of more than $1,200 reached in 2013. Some analysts believe the rise in Bitcoin is due to some investors treating it as a safe-haven, like gold, at a time of global uncertainty.