Why has bitcoin’s value soared?

One bitcoin was this week worth more than £1,300 — more than an ounce of gold. If, at the start of 2011, you had invested £1,000 in bitcoins (which were launched by the elusive Satoshi Nakamoto in 2009), your investment would now be worth £7m — while the equivalent amount placed in gold over the same period would have grown by just £42, according to FT research.