Gbtc shares jump on GbtC share price jump
BANKS – The price of bitcoin has soared to an all-time high as the digital currency surged to a record high of $11,829.60.
Banks had been expected to have little impact on the bitcoin price as they did not offer any bitcoin deposits or withdrawals, according to a report by CNBC.
However, on Wednesday, Barclays confirmed it was introducing a bitcoin debit card.
The Barclays bitcoin debit is a credit card for use with bitcoin.
In response to the news, the bitcoin value surged over $3,000, hitting an all time high of more than $11.8 million.
The bitcoin price has since fallen back down to around $7,000.
As bitcoin surged to $11.,000, the stock market has also surged.
The Dow Jones Industrial Average, which is one of the largest stock indexes in the world, jumped 5.7 percent.
It is the biggest one-day increase since December 20.
Shares of the Nasdaq Composite also jumped 4.7% after the tech giant said it plans to launch a bitcoin ETF.
The price of gold, which has a greater purchasing power than bitcoin, has been trending lower, falling 1.2 percent to $1,096.13 an ounce.
It was the worst-performing gold index since February 18.
Bitcoin has been a hot topic in the US during the presidential campaign, and in recent months it has been blamed for sparking a recent run on bitcoin.
President-elect Donald Trump’s administration has pushed for bitcoin to be included in the Dodd-Frank financial reform law, which was passed last year to regulate Wall Street.
However he has also voiced support for the cryptocurrency and has vowed to crack down on the currency.
The president-elect has also spoken openly about the potential of bitcoin, and has called for the federal government to make it legal to sell it to people without a license.
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