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Shock U.S. Digital Dollar Proposals Set Bitcoin And Crypto Prices Alight
Bitcoin and cryptocurrency investors have cheered U.S. plans to create a so-called digital dollar as part of a massive coronavirus-induced stimulus bill. The bitcoin price has climbed some 15% over the last 24-hour trading period, nudging $7,000 per bitcoin, and sending the wider cryptocurrency market sharply higher. The bitcoin price had already been boosted by the Fed promising an open-ended commitment to keep buying assets under its coronavirus crisis quantitative easing measures. If the U.S. were to create a digital dollar it could be seen as a tacit endorsement of bitcoin and cryptocurrencies, especially if it ... (full story)
