Today the price of the bitcoin surpassed $1,000 for the first time ever on the Mt. Gox online exchange.
The wildly fluctuating digital currency was trading at just $12 last year and $250 earlier this month.
The completely unregulated currency surged to $1,044 today, up 80-fold from one year ago.
Some speculators are betting on a continued rise in the price of the bitcoin, anticipating mainstream acceptance in the future, while others denounce the volatile financial instrument as one in a bubble.
The Canadian Revenue Agency, for one, does not classify bitcoins as "real money."