New York Fed President Bill Dudley said that perhaps the Federal Reserve should start thinking about its own digital currency. He acknowledges the value of blockchain technology.
Dudley says that Bitcoin will never be a rival for the dollar and also states that is more of a speculative activity. However, giving the nod to the technology is helpful.
Yesterday, Fed Chair nominee Jerome Powell also acknowledged the value of the blockchain technology but did not add too much on that.
Update: ETH/USD >$500 – Ethereum getting carried after Bitcoin
It seems like there is no such thing as bad publicity for the cryptocurrency. Prices of other coins such as Ethereum are also on the rise, but the most famous one seems to be leading the pack in rises, even at its current levels.
It did not take that long for BTC/USD from the break above $10K to topping 11K.
BTC/UDS is now trading at 11111.11 11298 US dollars and continues climbing
Here is the recent move on the 30-minute chart:
And if we zoom out to the weekly chart and examine the moves since the beginning of the year, we see that this is a rise of over %1000. Bitcoin was worth less than gold early on. Now it is worth something like 9 times the price of the precious metal.
