Bitcoin Soars Above $7,000 for First Time - Breitbart
Description: The price of Bitcoin smashed another record early Thursday morning -- $7,000 for each unit of the digital currency.
Keywords: Amazon, bitcoin, blockchain, CME Group, Cryptocurrency, Ethereum, Segwit2x,Economics, Tech,bitcoin
Date: 2017-11-02T04:28:55-07:00

# Bitcoin Soars Above $7,000 for First Time

Dan Kitwood/Getty Images

by Ezra Dulis 2 Nov 2017 0

2 Nov, 2017 2 Nov, 2017

## The price of Bitcoin smashed another record early Thursday morning — $7,000 for each unit of the digital currency.

As of 7 AM Eastern time, BTC is selling for $7,191.16, according to data from Coinbase. Bitcoin — which is minted by a decentralized network of miners, not a governing body — hit this latest benchmark with a single-day increase of nearly $640, only 13 days after it first became valued at $6,000. If an individual bought 1 BTC exactly one month ago, it has grown $2,902.33 or +67.67% in value.

advertisement

The surge came just days after CME Group, the world’s largest futures exchange, announced it would begin offering its customers contracts for trading Bitcoin futures.

Bitcoin’s meteoric rise continues amid uncertainty about its future. In a few weeks, the currency will undergo a “hard fork,” or a split in Bitcoin’s blockchain, creating two different versions of the currency to implement a coding update that has been extremely controversial in the Bitcoin community. “Segwit2x,” which is designed to increase the number of transactions that the BTC blockchain can handle, will have drastic effects on the currency’s mining process.

A thorough explanation of the controversy can be seen here:

Earlier this week, Bitcoin prices surged over speculation that China might relent as the October 31 deadline approached for its announced ban on domestic digital currency exchanges trading against the yuan. However, the People’s Republic followed through, and now existing Chines exchanges have shifted their operations to other Asian countries.

Ethereum, the top digital currency behind Bitcoin, has plunged in price as Bitcoin enjoys its massive surge, falling from a 24-hour high of $301.41 to $277.82 Thursday morning.

However, this Tuesday, Amazon bought the domain names amazonethereum.com, amazoncryptocurrency.com, and amazoncryptocurrencies.com, fueling speculation that it may get into the action on decentralized digital currencies. Ethereum is not just a currency like Bitcoin but an app development platform — the Windows or OSX of blockchain. The domain purchase could be a sign that Amazon may join the Enterprise Ethereum Alliance — a group of large companies, including JP Morgan and Microsoft, putting their weight behind blockchain tech.

Comment count on this article reflects comments made on Breitbart.com and Facebook. Visit Breitbart's Facebook Page.

BREITBART CONNECT

## MOST POPULAR

- Very Jake News: Tapper Melts Down over Criticism of Inaccurate ‘Allahu Akbar’ Comments 0 comments - 2 hours ago
- Barack Obama: Breitbart News Shifted Entire Media Narrative During 2016 Election 0 comments - 8 hours ago
- GOP Tax Bill: Live Analysis 0 comments - 6 hours ago
- Bannon Celebrates Second Anniversary of Breitbart News Daily: Engaged and Informed Audience Defied the Experts to Make Donald Trump President 0 comments - 5 hours ago
- Donna Brazile: Team Clinton Controlled DNC in 2015 Before Winning Primary 0 comments - 6 hours ago
- Report: Trump Privately Blames Jared Kushner for Mueller’s Indictments 0 comments - 20 hours ago
- Report: Multiple Wounded in Downtown NYC After Driver Shoots Pedestrians from Car 0 comments - 2 days ago
- Donald Trump Calls for Immediate End to ‘Diversity Visa’ Program That Admitted New York Terror Suspect to U.S. 0 comments - 24 hours ago
- Robert Mercer to Sell Shares in Breitbart News to Daughter Rebekah: Read the Full Statement 0 comments - 2 hours ago
- Report: NYC Foreign Terror Suspect Entered U.S. with ‘Diversity Visa’ Trump Wants to End 0 comments - 2 days ago

Russia, Russia, Russia
Podcast with guest Dick Delingpole
Democrats Ignore Fact That Guns Save Lives

## FROM THE HOMEPAGE

- Rep. DeSantis: ‘We Know Now Without a Shadow of a Doubt’ Hillary and Democrats Colluded with Russia
  Comments
- Rep. Ron DeSantis: Mueller’s ‘Very Dangerous’ Investigation Is ‘Not the Way the Government Is Supposed to Operate’
  Comments
- Trump Nominates Jerome Powell to Chair Federal Reserve
  Comments
- America Fights Back: 1 Million Cord-Cutters Freak Out Cable Industry
  Comments
- Very Jake News: Tapper Melts Down over Criticism of Inaccurate ‘Allahu Akbar’ Comments
  Comments
- Campaign Finance Reports Prove the Ralph Northam Campaign Coordinated with Latino Victory Fund on ‘Sickening’ Ad
  Comments
- Robert Mercer to Sell Shares in Breitbart News to Daughter Rebekah: Read the Full Statement
  Comments
- EXCLUSIVE – Ex-Gitmo Warden Agrees with Trump: Send NYC Terror Suspect to Guantanamo Bay for Enhanced Interrogation
  Comments
- Exclusive – Congressman Ken Buck Calls for Congressional Hearings into Hollywood ‘Criminal’ Sex Misconduct
  Comments
- Poll: NFL Ratings Down More in Blue States Than Red States
  Comments
- Papa John’s CEO Rips NFL ‘Leadership’ Over Anthem Protests in Quarterly Conference Call
  Comments
- Watch: Democrat Rep. Steve Cohen Accuses Black Pro-Life Activist of ‘Ignorance’
  Comments