Bitcoin’s price tumbled Friday following an intensified call from Chinese authorities to crack down on mining and trading of the cryptocurrency. Chinese Vice Premier Liu He and the State Council said in a statement that tighter regulation is needed to protect the financial system. The statement, released late Friday in China, said it is necessary […] Read more
Bitcoin’s value surpassed $1 trillion on Tuesday as the price of the cryptocurrency jumped. The digital coin’s price rose on Tuesday and its market capitalization went above $1 trillion in mid-morning trade Singapore time, according to CoinDesk. Bitcoin extended those gains hitting a 24-hour high of $54,348.57 in early afternoon Singapore time, around 7% higher than […] Read more
Citi thinks bitcoin is at a “tipping point” and could one day “become the currency of choice for international trade” as companies like Tesla and PayPal warm to it and central banks explore issuing their own digital currencies. “There are a host of risks and obstacles that stand in the way of Bitcoin progress,” the U.S. bank’s global perspectives and solutions team […] Read more
