{"id":323,"date":"2013-11-19T17:03:00","date_gmt":"2013-11-19T17:03:00","guid":{"rendered":"http:\/\/blog.holytransaction.com\/bitcoin-price-skyrockets-as-senate\/"},"modified":"2013-11-19T17:03:00","modified_gmt":"2013-11-19T17:03:00","slug":"bitcoin-price-skyrockets-as-senate","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2013\/11\/bitcoin-price-skyrockets-as-senate.html","title":{"rendered":"Bitcoin price skyrockets as Senate hearing concludes"},"content":{"rendered":"
\n<\/a><\/div>\n

\n(CoinDesk<\/a>) The price of bitcoin spiked dramatically last night and the
\ntransaction volume on the Bitcoin protocol (in USD) eclipsed that of
\nWestern Union.
\nThe spike took place after Jerry Brito, Patrick
\nMurck and Jeremy Allaire presented their testimonies on bitcoin and the
\nfuture of virtual currencies to the Homeland Security and Governmental
\naffairs committee in the US senate at the Senate hearing titled Beyond Silk Road: Potential Risks, Threats and Promises of Virtual Currencies<\/a>.
\nThe CoinDesk BPI<\/a> read $650 on conclusion of the hearings, with Mt. Gox reporting a jump to $750<\/strong> and, later, BTC China reaching a record high of 6,989 CNY (approximately $1,147)<\/strong> before crashing to almost 60% of this value in seconds, and then recovering to about $850<\/strong>. At the time of writing, the CoinDesk BPI puts the price at $602.
\nThe
\n senate hearing is being hailed as an historic moment for bitcoin, with
\neven Ben Bernanke, current chairman of the Federal Reserve remarking
\nthat virtual currencies \u201cmay hold long term promise\u201d in an open letter
\nto Senator Thomas Carper (D) published 12th November.
\nAt the
\nhearing, Senator Carper listened to commentary, criticism and praise of
\nbitcoin with a temperament that left many in the bitcoin community
\nimpressed and even delighted, whilst Jennifer Shaskey Calvery from
\nFinCEN was measured in her analysis and assessment of the promises and
\nthreats that virtual currencies present.
\nThis morning, data analysis website Coinometrics<\/a> reported
\n that bitcoin passed Western Union in daily transaction volume,
\ntransacting an average of $245m compared with Western Union\u2019s estimated
\n$216m but is still behind on the average number of daily transactions at
\n approximately 62,000, with Western Union clocking up approximately
\n633,000 transactions per day by comparison.<\/p>\n

Open your free digital wallet here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n","protected":false},"excerpt":{"rendered":"

(CoinDesk) The price of bitcoin spiked dramatically last night and the transaction volume on the Bitcoin protocol (in USD) eclipsed that of Western Union. The spike took place after Jerry Brito, Patrick Murck and Jeremy Allaire presented their testimonies on bitcoin and the future of virtual currencies to the Homeland Security and Governmental affairs committee in […]<\/p>\n","protected":false},"author":1,"featured_media":951,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,468,542,656],"tags":[1126,1201,1307],"yoast_head":"\nBitcoin price skyrockets as Senate hearing concludes -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/holytransaction.com\/blog\/2013\/11\/bitcoin-price-skyrockets-as-senate.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin price skyrockets as Senate hearing concludes\" \/>\n<meta property=\"og:description\" content=\"(CoinDesk) The price of bitcoin spiked dramatically last night and the transaction volume on the Bitcoin protocol (in USD) eclipsed that of Western Union. 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