Bitcoin Is Literally Soaring Into Space After Rocket-Like Surge
- Cryptocurrency has risen more than eightfold in past year
- Technology provider to use satellites to increase access
Bobby Lee, BTCC co-founder and chief executive officer, discusses the outlook for cryptocurrencies with Bloomberg's Yvonne Man and Betty Liu on 'Bloomberg Daybreak: Asia.' (Source: Bloomberg)
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Space-like adjectives are often used to describe bitcoin’s stratospheric price rise. Now there may be some truth in those analogies.
Blockstream Inc. plans to make the digital ledger underpinning the cryptocurrency accessible via satellite signal so people without Internet access, or in places where bandwidth is expensive, can trade and mine bitcoin. The company also touts the service as additional layer of reliability for bitcoin’s blockchain data in the event of a network disruption.