Bitcoin surpasses the New Zealand economy

The digital currency Bitcoin is now worth more than the New Zealand economy.

In July, New Zealand's GDP was valued at US$185 billion according to the World Bank, but that's $5 billion less than the value of Bitcoin.

There is US$190 billion of the cryptocurrency in circulation, according to coincapmarket.com.

Launched in 2009, the online currency allows people to make one-to-one transactions, buy goods and services and exchange money across borders without involving banks, credit card issuers or other third parties.

People are making fortunes through Bitcoin, including the twin brothers who once sued Facebook founder Mark Zuckerberg.

Tyler and Cameron Winklevoss are the first people to publicly state they have broken US$1 billion mark from investing in Bitcoin.

Newshub.