Here’s what happened this week in Bitcoin in 99 seconds.
Bitcoin’s price climbed back over the $10,000 mark. These latest bullish trends in price seem to be a correction to the sharp price drops of the last few weeks. The rise in price may also be caused by additional investors looking to get into Bitcoin while the price is relatively low, including one anonymous investor that bought over $400 million in Bitcoin this week alone.
In a segment of her popular television show this week, which averages almost 3 million viewers per episode, Ellen DeGeneres spent several minutes speaking about the non-physical nature of Bitcoin and wallets, as well as touching on volatility. This type of mainstream publicity is another step in Bitcoin’s early majority adoption.
Popular Bitcoin exchange Coinbase seems to have been overcharging users thousands of dollars. Coinbase issued a statement saying it wasn’t liable for the duplicate charges and that the credit card companies are at fault. Visa backed Coinbase stating it’s indeed not their fault. Who’s fault is it then? No one really knows just yet….
Finally, The Arizona Senate passed a bill that would allow residents to pay their income taxes using Bitcoin or other cryptocurrencies “recognized” by the state’s revenue authorities. The law will next be considered by the state’s House of Representatives. If the law will eventually pass it will have a profound making Bitcoin it legal tender inside the state.
That’s what happened this week in Bitcoin. See you next week.