Bitcoin Turns 8 years Old

The software has been running and the blockchain has been growing since January 3, 2009 at 2:15PM EST, when the genesis block was created.

Alot of water has passed under the bridges since then. has seen its value top $1,000 (£815) for the first time in three years after it ended as the best-performing currency of 2016.

Bitcoin relies on web-based transactions handled across thousands of computers and is used as an anonymous way to move money globally. Bitcoin's value rose by 125% in 2016, making it the world's best-performing currency when compared with its central bank-issued peers.

There are also more Bitcoins in circulation than ever before and it is estimated 12.5 are added to the system every 10 minutes.

It is estimated the crypto-currency's total worth is now above $16bn.