Bitcoin Price Recovers to $2,200 After Rollercoaster Week
On May 27, CCN reported that bitcoin price went from $2,500 to $2,700 and fell to $1,900 on the same week, as fears of investors toward a short-term bitcoin bubble intensified. Despite the $800 fall, Bitcoin has recovered relatively fast, stabilizing at $2,230. Last week, Bitcoin price averaged at $2,000. Although many investors panicked when bitcoin price dipped below the $1,900 region and reached $1,870, the market has since recovered from a major price correction and any investors that purchased bitcoin last week have still seen a weekly gain.
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Japan's BITPoint to Add Bitcoin Payments to Retail Outlets
BITPoint Japan Co., the company behind Peach Aviation Ltd.’s move to let travelers use bitcoin to pay for tickets, is planning to give hundreds of thousands of Japanese retail outlets the ability to accept the digital currency. Genki Oda, BITPoint’s president, said in a recent interview:
“We’re holding discussions with a retail-related company. By going through a company providing payment terminal services to shops, we have the possibility of increasing its use at one stroke. It’s easier than talking to lots of individual retailers.”
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Spanish Banks Form New Blockchain Consortium
A group of Spanish banks has formed the country's first blockchain consortium. Wholesale bank Cecabank announced the effort today, partnering with professional services firm Grant Thornton. According to Spanish newspaper El Pais, the group's membership includes Abanca, Bankia, CaixaBank, Kutxabank, Ibercaja, Liberbank and Unicaja. Cecabank has described the consortium as a way for its employees to get a top-down understanding of the tech – as well as possible insight into how the bank might actually go about using it.
Jaime Manzano, Cecabank's head of reporting, operational management and banking training services, said in a statement:
"Employees of all our functional areas are not only going to gain an in-depth understanding of the technology, but also of all the new features that arise, which is indispensable, considering the momentum for constant progress maintained by blockchain."
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