Bitcoin prices have risen 12% in the past 24 hours, following the US Federal Reserve’s announcement that they are further expanding their quantitative easing efforts. Two bills put forward by House Democrats have also suggested the introduction of a digital dollar and, even though the proposed currency would not be run on blockchain and would be controlled by the bank, it has given the cryptocurrency market some hope. At the time of writing, Bitcoin’s price was $6,750, the highest it has reached since March 12.
The Federal Open Market Committee announced yesterday that it would continue to expand its efforts “to support the flow of credit to households and businesses by addressing strains in the markets for Treasury securities and agency
The House Democrats have also put forward two bill proposals, aimed at providing cash to individuals and families that are struggling during the outbreak. Both bills include the establishment of a digital dollar. The dollar would be controlled by banks and would effectively be placed directly into the accounts of recipients. It would not be
Bitcoin’s increase has pushed other cryptocurrencies into the green, although the world’s largest cryptocurrency leads the pack of top 10 coins, with the exception of Tezos, which has seen a marginally higher 14% gain.
At 12:30 GMT, Bitcoin (BTC) has added 10.2% to its price and is now changing hands at $6,651.90 while Ethereum (ETH) is close to posting
If you have any questions and comments on Bitcoin today, use the form below to reply.