As the value of the Bitcoin reached a landmark USD700 valuation, The US Senate committee held a hearing with experts, lobbyists and federal regulators to discuss about the potential threats, risks and benefits of virtual currency.
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An analyst said that the involvement of Bitcoin in the Silk Road online marketplace scandal provided enough boost for the digital currency to receive support from the market, and even US government agencies, as an accepted investment and payment technology solution.
Bitcoing exchange BTC China received USD5 million in Series A investment from Lightspeed China Partners and Lightspeed Venture Partners to fund its general operations, but indicated plans to expand its business.
itBit is a digital currency exchange that provides the latest platform for Bitcoind trading in differing currencies such as the US Dollar, Singaporean Dollars and in Euros.
Singapore-based Bitcoin exchange startup itBit secured USD3.25 million in a new funding round to be used for the launching of its Bitcoin exchange currency and the expansion of its operations worldwide.
Some industry observers see the rise in Bitcoin value as a bloated valuation.
Circle Internet Financial's USD9 million Series A investment would be the biggest funding received by a digital currency startup.
Despite the negative press Bitcoin received due to the Silk Road black market scandal, industry observers believed that there would be a renewed investor interest in digital currency.
Payment processing company Dwolla told its customers through an email statement it would no longer accept Bitcoin currency starting the end of this month.
According to a Reuters report, the value of bitcoins had decreased following the arrest of Silk Road, an underground website allegedly selling illegal products and services.
The Federal Bureau of Investigation had shutdown Silk Road, an alleged online bitcoin marketplace used to perform illegal activities, said a Reuters report.
According to a Reuters report, venture capitalists showed no signs of shying away from startup investments related to Bitcoin even as authorities increased scrutiny among numerous virtual currency firms.
On Thursday, stock exchange SecondMarket launched the first virtual money investment fund in the United States.
Bloomberg Businessweek reported that the Bitcoin frenzy had reached China.
Bitcoin Foundation joins U.S. regulators in FinCEN-hosted discussion regarding digital currency.
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