The price of Bitcoin unexpectedly surged with its value increasing by more than £500 in the space of an hour.
The value of the world's best known crytopcurrency started the day at just under £5,000 ($7,000) on Thursday before shooting up to just over £5,600 ($8,000) before lunchtime.
It then dropped off to about £5,380 ($7,650) on Thursday afternoon, according to CoinDesk's Bitcoin Price Index.
The overall increase of the value Bitcoin stands at more than 10 per cent at the time of writing.
The sudden surge came after weeks of the cyptocurrency maintaining a steady value.
The value of Bitcoin surged during 2017 – it was valued at about £700 ($1,000) a year ago before peaking at about £14,041 ($20,000) in December.
It has lost more than 50 per cent of its value so far this year.
Other leading cryptocurrencies have also seen a boost to their value over the last 24 hours.
Ethereum, Ripple, Bitcoin Cash and EOS all experiencing gains of more than 10 per cent over the last 24 hours.
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