It has been difficult to keep track of any stories regarding Bitcoin of late, mainly because the cryptocurrency reaches a new milestone valuation with each passing week. The same rings true this time around, with Bitcoin passing the $15 000 mark yesterday, now sitting steady at just over $16 000 at the time of writing, according to Coindesk.

Only last month, Bitcoin surpassed the $8 000 mark, and a couple of weeks later it has nearly doubled that margin. As such, the increased interest in the cryptocurrency shows no signs of slowing down.    

At the moment, Bitcoin is seldom used to facilitate payments, with Steam recently opting to stop support of it due to the volatile nature and fluctuating price. Add to that the fact that Bitcoin transactions are often a time consuming exercise, and the reason behind why the cryptocurrency has proved so popular remains a mystery for investors.

As such, we could simply be witnessing another financial bubble. Whether it will burst though is anyone's guess.