The price of bitcoin rose to a four-month high on Sunday 5 July, as news broke that Greece had voted against the terms of an international bailout.
Bitcoin reached a peak of $273 (£175, €247) at around 6pm GMT on Sunday, according to the Coindesk Bitcoin Price Index. It was around this time that opinion polls in Greece suggested that the country had voted ‘no’ in the referendum.
About 60% of Greeks voted to reject eurozone cash-for-reform proposals, an outcome that several European leaders warned will result in the country leaving the eurozone – also referred to as Grexit.
Other cryptocurrencies also experienced significant surges in value, most notably litecoin. Often referred to as the silver to bitcoin’s gold, litecoin rose in price by 17% over the last 24 hours. This follows a month-long trend of gains, which has seen its market cap rise from $70m to $195m in the space of just 30 days.
Read more: International Business Times