26 Oct '13, 1am

Dollar plunges to an all time low of .005 Bitcoin before rising just slightly. /via @paulvigna

Dollar plunges to an all time low of .005 Bitcoin before rising just slightly. /via @paulvigna

There are a number of cross-currents driving the virtual currency right now. The big macro market crises, like Cyprus in the spring, and the U.S. government shutdown this month, tend to drive some people into bitcoin. Also this week, Baidu, the Chinese website that is the Middle Kingdom’s version of Google, said one of its subsidiary services would start accepting bitcoin . Bitcoin, due to regulatory hurdles, is actually bigger in some overseas pockets than in the U.S., so the news was seen as a big vote of confidence.

Full article: http://blogs.wsj.com/moneybeat/2013/10/25/bitcoin-surges-...

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