29 Jun '15, 6pm

Greek crisis stokes bitcoin prices higher

The price of bitcoin has risen over the past week—just as the Greek debt talks spiraled out of control. Bitcoin traded at more than $255 on Monday afternoon, according to CoinDesk's Bitcoin Price Index—up from about $223 on June 7. In fact, that's approaching the cryptocurrency's three-month high of about $261, and it's all thanks to Greece, according to traders and bitcoin experts. "(Bitcoin) had been middling around the $235-245 range for several months, and all of the sudden this crisis escalates and you've gotten yourself a nice 10-point pop," said Brendan O'Connor, CEO of digital currency-specialists Genesis Global Trading, adding that Greece was likely the only factor behind the digital currency's upward momentum.

Full article: http://www.cnbc.com/id/102796314

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