As news of Britain’s departure from the European Union shakes world politically and economically, the value of Bitcoin is surging.
Although traditional currency markets worldwide are tanking, Bitcoin values jumped from $550 to $650 overnight.
Stocks around the world initially tumbled upon the news that Brexit had passed. Europe was the most heavily affected, with stocks in Frankfurt and Paris falling 2 percent. Spain and Italy witnessed the steepest one-day declines in history.
In the U.S., the Dow Jones had a 535-point drop as the opening bell rang – roughly $420 billion in stock value. That number had improved slightly by mid-morning.
Bitcoin values are bound to fluctuate wildly during this volatile time, as Britain’s Prime Minister David Cameron resigns and additional countries prepare to vote on leaving the EU.