Bitcoin hits highest levels in almost 3 yearsDecember 10, 2016 - 16:16 AMT PanARMENIAN.Net - Web-based digital currency bitcoin hit its highest levels in almost three years on Friday, December 9 extending gains since India sparked a cash shortage by removing high-denomination bank notes from circulation a month ago, Reuters reports. Bitcoin was trading as high as $774 on the New York-based itBit exchange, up almost 1 percent on the day and the highest since February 2014, having climbed almost 9 percent in the past month. Bitcoin is a cash alternative that can be used for moving money across the globe quickly and anonymously with no need for a central authority to process transactions. It has climbed around 80 percent so far this year, far exceeding its 35 percent rise in 2015. Indian prime minister Narendra Modi announced a shock move on Nov. 8 to ditch 500 and 1,000 rupee notes - worth a combined $256 billion - that he said were fuelling corruption, being forged and even paying for attacks by militants who target India. The cryptocurrency's value has been highly volatile - after rocketing above $1,100 in 2013, it had fallen to around $150 by early 2015. But it has since stabilized, staying above $500 for the past six months. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Russia clarifying reports on Baku’s alleged arms supply to Ukraine Russia says is carefully working to verify reports about alleged arms supplies from Azerbaijan to Ukraine Russia warns Armenia against “falling into West’s trap” Zakharova maintained, however, that anything that will benefit the people of Armenia can only be welcomed. CSTO: Armenia has not participated in secretariat’s work recently Recently Armenia has not participated in the work of the secretariat of the CSTO, Imangali Tasmagambetov said. Meeting with U.S., EU not against third parties, says Armenia The meeting scheduled for April 5 is dedicated to strengthening of the Armenia-EU-US cooperation, Yerevan added. |