The value of the bitcoin crypto coin is on the rise after a tumultuous week. The crypto currency rose by around 12 percent on Saturday around 10 a.m. to a value of 9,500 dollars (about 8,754 euros) per bitcoin.
At the height of the night from Friday to Saturday, the bitcoin price rose to $ 10,134, the highest level since mid-September. Other crypto coins such as ethereum and litecoin also went up considerably.
The reason for the increase may lie in statements by Chinese President Xi Jinping. He said on Friday that China should use the possibilities of the blockchain, the technology behind the digital currency.
Earlier this week, the bitcoin fell sharply, after doubts about the continued existence of Facebook's cryptomib libra. The coin is under fire from the US government. Facebook CEO Mark Zuckerberg had to appear in Washington on Wednesday to explain the project.
This led investors to fear that governments around the world might put a brake on the growth of crypto currency.