$200 Million In 60 Minutes: Filecoin ICO Rockets to Record Amid Tech Issues
The ICO for the the blockchain-based data storage system Filecoin has increased as much as $250 million despite being beset by technology difficulties.
Bitcoin crossed the $3,000 mark this week for the first time and jumped to a record high of $3,486.73, while ethereum has gained more than 30 percent in four trading days. The biggest digital currencies had been gaining in the previous weeks, as relief that a split in the bitcoin blockchain, agreement on how to scale the technology and regulatory developments boosted prices.
Investors are going into cryptocurrencies even as bitcoin’s volatility is about 10 times that of gold, as proponents view their independence from any central authority as a safeguard against central bank meddling or government turmoil. It also serves a means to protect savings in countries that have high inflation, a weakening currency or capital controls.