Bitcoin spikes to fresh record after Fed’s Kashkari speaks about blockchain ‘potential’ – CNBC

  • Bitcoin rose more than 6 percent to hit an all-time high of $1,747.06, according to CoinDesk.
  • Minneapolis Federal Reserve Bank President Neel Kashkari said the blockchain technology behind bitcoin probably “has more potential” than the currency has by itself.
  • Other digital currencies supported by blockchain have recently gained investor interest.

Bitcoin jumped Tuesday to a fresh record above $1,700 after a Federal Reserve official talked up the potential of the blockchain technology that supports the digital currency.

Bitcoin rose more than 6 percent to hit an all-time high of $1,747.06, according to CoinDesk. Prices then gave up some gains.

“I would say I think conventional wisdom now is that blockchain and the underlying technology is probably more interesting and has more potential than maybe bitcoin does by itself,” Minneapolis Federal Reserve Bank President Neel Kashkari said in a Reuters report. He was speaking at a technology conference in Minneapolis, Minnesota.

More at: Bitcoin spikes to fresh record after Fed’s Kashkari speaks about blockchain ‘potential’ – CNBC

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