Bitcoin leaps 15% to highest in nearly a month on increased confidence in currency's future | CNBC
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0.000 HBDBitcoin leaps 15% to highest in nearly a month on increased confidence in currency's future | CNBC
<html> <blockquote>*.Bitcoin jumped to its highest in nearly a month.</blockquote> <blockquote>*.Analysts noted diminished threat of a split in the currency on Aug. 1.</blockquote> <blockquote>*.Institutional investor interest in bitcoin has also grown in the last several weeks.</blockquote> <p><img src="https://fm.cnbc.com/applications/cnbc.com/resources/img/editorial/2017/07/20/104599708-5ED4-BL-0720Bitocin.600x400.jpg?v=1500585158" width="600" height="400"/></p> <blockquote>Bitcoin jumped Thursday to its highest price in almost four weeks as digital currency developers appeared to come closer to an agreement that would prevent a split in the cryptocurrency.</blockquote> <blockquote>Bitcoin rose more than 15 percent, to $2,675.67, its highest level since June 25, according to CoinDesk. </blockquote> <blockquote>As of 1:33 p.m. ET, the digital currency traded near $2,648. </blockquote> <blockquote>It's up about 4 percent for July and more than 170 percent higher for the year.</blockquote> <blockquote>Bitcoin three-month performance</blockquote> <p><img src="https://fm.cnbc.com/applications/cnbc.com/resources/editorialfiles/charts/2017/07/1500573662_btc3mo_720.jpg" width="720" height="313"/></p> <p>Source: CoinDesk</p> <blockquote>Developers need to agree on activating an upgrade known as Segregated Witness by Aug. 1 in order to prevent the digital currency from splitting, or forking. </blockquote> <blockquote>Coinbase's GDAX exchange has said it might pause bitcoin trading if the currency splits.</blockquote> <blockquote>"Bitcoin is rallying largely because the probability of Segregated Witness being activated is increasing as more miners signal that they will activate it," said Ari Paul, CIO of BlockTower Capital, a cryptocurrency investment firm. </blockquote> <blockquote>Not every miner to agree, but at least 80 percent need to.</blockquote> <blockquote>The move higher also came amid increased interest in the digital currency world from Wall Street.</blockquote> <blockquote>Forbes reported Tuesday that bitcoin is a top holding of investor Bill Miller's hedge fund.</blockquote> <blockquote>"The institutional interest in this space has picked up again, not that it really died off too much," said Brian Kelly, a CNBC contributor and founder of BKCM, which runs a digital asset management strategy for clients. </blockquote> <blockquote>"Institutions are looking to get back in in a meaningful way."</blockquote> <blockquote>Ethereumalso jumped more than 18 percent, to near $230, its highest since Tuesday, according to TradingView charts of Coinbase data. Ethereum plunged below $200 over the weekend.</blockquote> <blockquote>The gains in Ethereum came despite news Wednesday that hackers stole more than $30 millionin Ethereum from wallets as the result of a security flaw.</blockquote> <blockquote> Earlier in the week, thieves stole more than $7 million in Ethereum by hacking the initial coin offering for CoinDash.</blockquote> <p>SOURCE: http://www.cnbc.com/2017/07/20/bitcoin-confidence-currency-future.html</p> </html>
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