Bitcoin craze propels Coinbase app to #1 in Apple's store

2017-12-08 08:56 - Adam Haigh, Bloomberg News
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Mike Caldwell, a 35-year-old software engineer, holds a 25 Bitcoin token at his shop. (Rick Bowmer, AP, file)

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Sydney - Cryptocurrencies are officially number one, at least when it comes to Apple’s App Store.

The software application for Coinbase, operator of one of the world’s largest digital currency exchanges, climbed to the top of Apple’s download ranking for free apps in the US on Thursday.

It’s yet another sign of the speculative frenzy surrounding bitcoin, which just recorded one of its wildest swings in recent memory. On Coinbase’s GDAX exchange, prices zoomed up to almost $20 000 from $16 000 in about 90 minutes on Thursday, before sinking back down.

The venue temporarily crashed and continued to suffer from service delays.

Bitcoin traded at $16 454.60 as of 12:13 in Hong Kong, up more than 17-fold this year, according to Bloomberg composite pricing.

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Read more about: bitcoin  |  cryptocurrencies