Digital currency investors look like they’ve had a pretty good week.
The price of Bitcoin went up 7%, but with a modest bump. Bitcoin Cash edged up 12%. Bitcoin Diamond gained 17%. Ether was down 1%. Litecoin dipped slightly but isn’t far off its previous highs.
Payments service Taproot has now added crypto to its platform. Until recently, Taproot was mainly focused on converting cash to app money, but the company now allows users to transfer assets to companies and consumers.
“We can connect up peoples’ cryptocurrencies, whether they hold it or they just prefer it,” said James Cryderman, Taproot’s CEO. “It’s hard to convey what that experience is like, but if I can finally transfer my liberty from a bank to my wallet, and then transfer it to my baby and to my child, that’s a major step.”
Admiral Meltzer, a consultant at Meltzer Advisory Solutions, said that the new Bitcoin and Ethereum transfer option could cause a “real increase in the value” of cryptocurrencies.
About a week ago, the Federal Reserve announced that it will now accept digital tokens to settle electronic payments, a move that could help to clear up some of the uncertainties facing the crypto community.
First published on WhatFX.com