Cybersecurity
Bitcoin Surges Past $4,000 on Speed Breakthrough
- Transactions seen quickening after solution was activated
- Coinbase’s new funding is also expected to boost demand
Bobby Lee, BTCC co-founder and chief executive officer, discusses the outlook for cryptocurrencies with Bloomberg's Yvonne Man and Betty Liu on 'Bloomberg Daybreak: Asia.' (Source: Bloomberg)
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Bitcoin soared past $4,000 for the first time on growing optimism faster transaction times will hasten the spread of the cryptocurrency.
The largest digital tender jumped to a peak of $4,298 Monday, a gain of nearly 20 percent since Friday, after a plan to quicken trade execution by moving some data off the main network was activated last week. The solution -- termed SegWit2x -- had been so contentious that a new version of the asset called Bitcoin Cash was spun off earlier this month in opposition.