As global markets flounder, Bitcoin rockets up 6%

Bitcoin with QR code
Benoit Tessier | Reuters

Bitcoin, the world's most popular digital currency, has skyrocketed despite a floundering global market.

The currency dipped to $312 in November — after jumping more than 70 percent in October to $410 — but has steadily risen to more than $450 in the last two months.

Bitcoin was up 6 percent on Thursday morning, after opening at $429.

U.S. stocks, on the other hand, opened sharply lower Thursday after continued overnight volatility in China.

Bitcoin is a relatively illiquid market, so its price is highly volatile.

For comparison, gold is up 1 percent, but is down 10 percent compared with this time last year.