#TradeNTell

has told users of an online social media app that he thinks the virtual currency, Bitcoin, is a "good thing."

His comments resulted in the value of Bitcoin rising significantly.

So much so, that a singular Bitcoin went from being worth ÂŁ3,600 in March last year to more than ÂŁ27,000 now.

As talk of the currency has gone global, the Bank of Singapore has suggested that the 12-year-old currency could replace gold as its store of value.