July and August were marked by quiet summer trade, rising yields and speculation about the next chairman of the Federal Reserve. And in those two months, bitcoinprices nearly doubled on the trading exchange Mt. Gox.
The price of a bitcoin on Mt. Gox, the largest bitcoin exchange by volume, was recently $128.50. That’s almost double the value of a bitcoin on July 5, according to the pricing website gold.net, which tracks Mt. Gox data. The size of the bitcoin market is more than $1 billion.
Just as in previous periods of bitcoin price appreciation, people have taken notice. Here’s a quick round up of bitcoin news this week:
- Representatives from bitcoin companies met with British officials this week, including members of the Department for Business, Innovation and Skills, according news reports. While the meeting shows government curiosity, it doesn’t mean the British government is going to regulate the digital currency, according to a report by CNBC.
- An undated eBay video about bitcoin titled “What’s the Deal with Bitcoins Anyway?” attracted attention on the bitcoin subreddit.
- Recent research took a crack at the perceived anonymity offered by bitcoin, showing how law-enforcement agencies could track illegal transactions. The method involves mapping the so-called blockchain, which registers all bitcoin transactions, according to an article in the MIT Technology Review.
- A post in Forbes took a look at the difference in bitcoin prices on different exchanges and claimed the spread “seems to violate a fundamental economic law.” For example, the price of a bitcoin on Bitstamp, the second-largest exchange, was recently $118.25.