Bitcoin is literally soaring into space after rocket-like surge

15.08.2017 / 19:37

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Space-like adjectives are often used to describe bitcoin’s stratospheric price rise. Now there may be some truth in those analogies. Blockstream Inc. plans to make the digital ledger underpinning the cryptocurrency accessible via satellite signal so people without Internet access, or in places where bandwidth is expensive, can trade and mine bitcoin. The company also touts the service as additional layer of reliability for bitcoin’s blockchain data in the event of a network disruption.

Bitcoin has soared more than 50 percent since the start of the month. A plan to move some data off the main network was activated last week in an effort to quicken trade execution and broaden access, helping to fuel the optimism. The price climbed to a record $4,449.90 Tuesday before retreating.

Source: Bloomberg Pro Terminal

Jr Trader Ivan Ivanov

Varchev Traders

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Bitcoin is literally soaring into space after rocket-like surge

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