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Bitcoin Rises Above $10,000 for the First Time in a Year

posted by Fnord666 on Saturday June 22 2019, @11:58AM   Printer-friendly
from the libra-lifted dept.

upstart writes:

Submitted via IRC for Bytram

Bitcoin rises above $10,000 for the first time in a year

Bitcoin's price has soared above $10,000 for the first time since early 2018, a new milestone in the virtual currency's latest comeback.

The price has more than tripled since hitting rock-bottom last December around $3,200. That was after crashing from an all-time high around $19,500 in December 2017.

As always, it's difficult to be sure what drives changes in Bitcoin's price. But one obvious candidate is Facebook's announcement of its own cryptocurrency, called Libra, earlier this week. Libra is a potential Bitcoin competitor, but the announcement also brings added legitimacy to the overall cryptocurrency market.

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  • (Score: 0) by Anonymous Coward on Saturday June 22 2019, @02:54PM (3 children)

    by Anonymous Coward on Saturday June 22 2019, @02:54PM (#858856)

    It's easy to trade Bitcoins for other non-repudiable commodities.

    https://bitcointalk.org/index.php?topic=1790.msg28917#msg28917 [bitcointalk.org]

  • (Score: 0) by Anonymous Coward on Saturday June 22 2019, @05:44PM (2 children)

    by Anonymous Coward on Saturday June 22 2019, @05:44PM (#858895)

    Sure. If I hold buttcoin, and someone is willing to give me cash for buttcoin, so he can buy CP, I can use the cash to buy gold. By transitivity I can be said to be buying gold for buttcoin.

    Just that the person who is parting with something real and legal is going to do so for cash.

    • (Score: 0) by Anonymous Coward on Saturday June 22 2019, @06:11PM

      by Anonymous Coward on Saturday June 22 2019, @06:11PM (#858902)

      Yea... As I sit on a couch bought with bitcoin and just wiped my ass with toilet paper bought with it and then washed my hands with soap I got for bitcoin too.

    • (Score: 0) by Anonymous Coward on Saturday June 22 2019, @06:15PM

      by Anonymous Coward on Saturday June 22 2019, @06:15PM (#858903)

      Shit, I forgot. I even paid the next 5 months rent with bitcoin.