28 Mar '13, 10am

Bitcoin prices surge post-Cyprus bailout

Shares of the cyber-currency bitcoin have surged in the past week as investors seek safe havens following the unprecedented bailout of Cyprus' banks. Bitcoin is an unusual place to seek security. It's a four-year-old digital currency developed by a hacker who still remains anonymous. But these are unusual times. Depositors in the tiny island nation of Cyprus are struggling to gain access to cash stored in the nation's banks, and some face losses on their deposits. The situation has caused investors all over Europe to question the safety of the banking system. The price of one bitcoin has popped 87% since Cyprus began discussing tapping deposits as part of the bailout by the EU and IMF. Bitcoins now trade at $88 each, up from $47 on March 16, 2013, according to data from Mt. Gox, the currency's main trading exchange. That compares with just 5 cents per bitcoin in mid-July 2...

Full article: http://money.cnn.com/2013/03/28/investing/bitcoin-cyprus/...

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Bitcoin prices surge post-Cyprus bailout

money.cnn.com 28 Mar '13, 10am

Shares of the cyber-currency bitcoin have surged in the past week as investors seek safe havens following the unprecedente...

Bitcoin prices surge post-Cyprus bailout

money.cnn.com 28 Mar '13, 10am

Shares of the cyber-currency bitcoin have surged in the past week as investors seek safe havens following the unprecedente...

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