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Saturday, May 13, 2017

Bitcoin spikes to fresh record after Fed's Kashkari speaks about blockchain 'potential'

Bitcoin spikes to fresh record after Fed

Bitcoin jumped Tuesday to a fresh record above $1,700 after a Federal Reserve official talked up the potential of the blockchain technology that supports the digital currency.

Bitcoin rose more than 6 percent to hit an all-time high of $1,747.06, according to CoinDesk. Prices then gave up some gains.

"I would say I think conventional wisdom now is that blockchain and the underlying technology is probably more interesting and has more potential than maybe bitcoin does by itself," Minneapolis Federal Reserve Bank President Neel Kashkari said in a Reuters report. He was speaking at a technology conference in Minneapolis, Minnesota.

Full story at http://cnb.cx/2rabQKS

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