What a wild week! Bitcoin started at $402, went as high as $543 and ended at $486 at 6:30 am EST. It was 22 times more volatile than the dollar over the past 30 days. Jeff Bezos said “no” but a Texas AG said yes. This and more in week 20 of the Bitcoin Tracker.
Link to live trading on the PYMNTS Bitcoin Price Index
Link to the PYMNTS Bitcoin’s Volatility Index here
Bitcoin Tracker | Week 20
What is the value of a bitcoin? Well, now, we feel, we can say with certainty. PYMNTS introduced its Bitcoin Price and Volatility Indices which, as the name implies, are two separate ways of tracking the price and volatility of this cryptocurrency. Both were developed in conjunction with economists at Global Economics Group who are experts in the methodologies and design of financial indices. What both revealed is that it was a wild week. The price of Bitcoin started the week at $402, rose as high as $543 and then settled at $486. It was 22 more volatile than the US Dollar. Both indices are updated in real time, so bookmark them and keep track of its rise and fall!
In other news, a political candidate said “yes” to accepting Bitcoins as campaign donations, while Jeff Bezos said “no” to accepting them on Amazon. The CEO of Mt. Gox also said “no” to coming to the US related to the Mt. Gox bankruptcy proceedings for fear of being arrested, and vending machines in Colorado said “yes” to accepting Bitcoins for buying marijuana from them.
Oh, and another story has emerged that the real “Satoshi” has been found.
Just another week in the world of Bitcoin. Hope you enjoy, and if you have any news you’d like to share, please send it our way at contactus@pymnts.com.
On the Plus Side …
The Bitcoin prices ended up after a rough week. A Bitcoin ATM emerged in China, despite banks being banned from dealing in Bitcoin there and one emerged in Sydney also. Bitcoin can now be used at marijuana vending machines in Colorado and a Bitcoin online shop opened a physical headquarters.
On the Dark Side …
People in the UK really don’t trust Bitcoin, Ron Paul sounded like an economist this week when asked about Bitcoin (on the one hand, it’s not true money but on the other, I like it) and things are not looking good for Charlie Shrem. Jeff Bezos has made his decision that Bitcoin is a “no-go” on Amazon and will steer clear of all virtual currencies at this time, well except for Amazon Coin of course.