Not only is the cyber currency less secure than it has ever been, speculation coupled with Asia’s entrance into the market just make bitcoin the “best investment” around for those who love huge spreads between bid and ask prices, and a whole lot of drama.

Ladies and gentleman, we have a Bitcoin bubble.

In January, one bitcoin would fetch around $13. Today, Dec. 4, 2013, it is worth $1,061 with $11.8 million sold on the Bitcoin Exchange.

If the currency rose by just a measly 1,000% next year, that would bring it over $10,000. It’s clearly risen 8 times that in the last 11 months.

By now, FORBES readers know what a Bitcoin is and how it operates. They’ve also read our articles on the crypto currency bubble.

In short, bitcoin is a hot bubbling virtual currency. Think PayPal, where you can send money to your lover without your husband knowing, and buy her crystal meth. The problem is, PayPal has real, traceable money. Bitcoin is private and anonymous making it a haven for illegal activity. And while a chunk of bitcoin transactions are surely used for illicit trade, most politicians and one college is now treating this better than gold.

The University of Cyprus won’t accept your golden coins or gold bars. But it now accepts Bitcoin.

And for those with a hankering for religious fervor, who see the Bitcoin as the heralded mark of the beast and its one world currency, guess who else loves this thing? That’s right…none other than the U.S. Senate.

Last month, the Senate Committee on Homeland Security and Governmental Affairs held the first congressional hearing on the future of Bitcoin. The panel featured senior members of the Obama administration, all of whom had nothing but praise for Bitcoin. They expressed concern about it being used for cyber crime. But also stressed that it had legitimate uses and that regulators needed to be careful not to stifle virtual currencies. No one was asking for new regulatory powers to crack down on illicit uses of Bitcoin, Timothy Lee of WaPo reported on Nov. 18.

Government loves it. Investors love it. Criminals love it. The Chinese love it! This beast is going to 10k!

“Financial markets will probably feel the ripples of Bitcoin as massive amounts of money are being pumped in from China and worldwide,” says Kaspersky Lab cyber security analyst Costin Raiu. ” Maybe Bitcoin will reach $10,000, or perhaps it will crash and people will start looking for more trustworthy alternatives.”

As it is, Kaspersky said the cyber currency is not as safe as it once was. Cyber gangs are developing malware to steal individuals bitcoin purses on line. Those values are only going higher. Thirty-day pricing has gone from around $200 to over $1,000. Bitcoin is a triple-levered ETF on steroids. And as security matters grow, users of the virtual fiat, including investors, might bail for something else.

With Bitcoin and its myriad of copy cats out there becoming a spot for malware, Raui predicts that more hackers will target Bitcoin in particular next year. Brazilians are already on the prowl to steal your virtual purse.

On Friday, October 25, during a joint operation between the FBI and the DEA, the infamous Silk Road was shut down after it was discovered to be selling drugs with bitcoin. About 140,000 bitcoins were seized, worth more than $148 million in today’s exchange rate. Founded in 2011, Silk Road was operating through the TOR Onion private internet network, having amassed over 9.5 million BTC in sales revenue.

“If you happen to own Bitcoins, perhaps the most important problem is how to keep them safe,” Raiu said.