Bitcoin hits $750, up 107% in a week
Bitcoin touched a fresh all-time high on Monday as the digital currency continued to gain favor with investors.
The virtual currency rose to $750 on Mt. Gox exchange Monday afternoon, up 42 percent from Sunday's close and up 107 percent from a week earlier.
Its latest gains come as the potential for regulation hangs over the market. The U.S. Senate Committee on Homeland Security and Governmental Affairs (HSGAC) began a hearing at 3.00 p.m. Washington time on Monday. The event brought representatives from different federal agencies and representatives from the bitcoin community to discuss virtual currencies.
Ahead of the hearing, entitled "Beyond Silk Road: Potential Risks, Threats, and Promises of Virtual Currencies", several government agencies wrote to the committee outlining their views on the currency. Federal Reserve Chairman Ben Bernanke stated that the bank had no plans to regulate bitcoin.
http://www.cnbc.com/id/101205416
Bitcoin has appreciated rapidly over the past year; as of Monday, the value has increased more than 50-fold from $11.00 in mid-November 2012.
Bitcoin dives 30% after touching record $900
Bitcoin dived more than 30 percent early Tuesday Asia time, after briefly touching a record high of $900.
The virtual currency fell to as low as $585 on the Mt. Gox Exchange, before rebounding to around $750.
http://www.cnbc.com/id/101208682
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