Here's a stat to make you feel sick. If you'd invested $1,000 in Bitcoin at the start of 2013 and had never sold any of it, you'd now be sitting on well over $1 million. I'm Jemima Kelly, a correspondent here at Reuters, and I've been following one of the biggest stories of the year, the meteoric rise of Bitcoin.
It's fair to say that Bitcoin has exceeded even the most bullish of expectations this year. It started the year at less than $1,000, and is now looking at $20,000. The fact that Bitcoin has increased about 20 times this year has drawn in millions of new investors. But has also led to an increasing number of warnings that the market is in bubble territory, and that bubble could be set to burst in spectacular fashion.
Bitcoin is very volatile. But it's also been very lucrative for those who've bought it. While not everyone agrees that it should even be called a currency, Bitcoin has outperformed every other traditional currency in every year since 2011. Bar 2014 when it performed worse than any other currency. In 2017, Bitcoin has stolen most of the headlines and most of the column entries.
But it's not actually been the best performing cryptocurrency. There are a handful of rivals that might steal the limelight in 2018. There are cryptocurrencies like Ethereum, or Ripple, or IOTA, or Monero. Some people are looking at those for 2018 and seeing if that could mean their year.