Bitcoin Price Hits $500, a 50 Times Increase in Just 12 Months

(CoinDesk) Those bitcoins that made you gasp at $300 just a couple of weeks ago? They were a bargain — the value of one BTC has now passed $500.

Prices hit this record and landmark figure at 11.50 a.m. GMT on Nov. 17, and at the time of writing were trading at $503.10 on Mt. Gox.

That means: if you bought a stash of bitcoins at their absolute highest peak price of $266 in April and then felt nauseous as the price plunged to $65 the same week, you have now almost doubled your investment. Provided you didn’t cut your losses and sell prematurely, that is.