Bubble talk as digital cash Bitcoin soars as 'safe haven' Since touching a record high of $147 earlier this week, the digital currency has since dropped back to trade closer to $130, according to the latest data. However, that is still well above its level last November when a Bitcoin was changing hands at just over $10. Once an internet curiosity, the currency, developed around 2009, is now attracting the attention of traditional market-watchers who say the bubble threatened may still give way to long-term stability. "As all bubbles there is a good story behind it, the trick would be to measure both the supply side and more importantly demand side value of Bitcoins," Sebastien Galy, a currency strategist at Societe Generale, said. With confidence in this BTC [Bitcoin] potentially increasing, the market actually starts building up its intrinsic value as a means of exchange, which might eventually make it potentially more stable in the long-term. Some professional investors believe the BTC thing is going to rise, though through a very bumpy road in the next few months. Bitcoin was established in 2009. The idea behind it was to allow users a means of payment that cuts out the banks through a "purely peer-to-peer version of electronic cash [that] would allow online payments to be sent directly from one party to another without going through a financial institution." For some, their ideological attachment to the project means they say they are committed to holding Bitcoins, even if the price does plunge.