The price of bitcoin rose to $9,469, its highest level in more than a year, just as Facebook unrolled details of its cryptocurrency project. Bitcoin peaked at about $18,000 in late 2017 before dropping to one-fifth of that price. Some cryptocurrency enthusiasts are betting Facebook will act as a gateway to the likes of bitcoin, ethereum and litecoin.
Continue reading Bitcoin price hits 1-year high on boost from Facebook’s Libra plan.
The digital currency project Facebook detailed on Tuesday will take up to a year to become in public available and 2 to 5years to be judged a success, or failure. However even before it became official, the project, called Libra, has been ready to do what seemed impossible: Drag the value of bitcoin out of the doldrums and to a one-year high.
Since March, the value of bitcoin, the best-known virtual currency, has nearly tripled. It hit a high of $9,469 in the evening of June 17 — hours before Facebook unconcealed a white paper detailing Libra, its cryptocurrency project.