Bitcoin Smashes Through $12,000 for the First Time

Bitcoin surpassed $12,000 for the first time on Tuesday, Dec. 5, just a week after breaking the $10,000 level.

The digital currency was trading below $1,000 at the start of the year.

According to Coindesk.com, the cryptocurrency was selling for just over $12,200 as of 11:30 p.m. ET on Tuesday.

As the price of the largest cryptocurrency by market value skyrockets, so has the number of accounts being opened. But the trading frenzy and steep ascent of Bitcoin has worried many investors and traders.

"Bitcoin is now officially an investor mania," warns Josh Brown from Ritholtz Wealth Management.

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This article was written by a staff member of TheStreet.