Bitcoin Explodes To $5,861 As Coinbase Announces Instant Bank Account Crypto Purchases

Written by Staff

Bitcoin traded as high as $5,861 last night. Some of the recent price action may be related to a technical breakout, and some to a platform change at Coinbase, an online platform that claims to be the world’s most popular wallet for buying, selling, transferring, and storing digital currencies bitcoin, ethereum, and litecoin.

Coinbase announced on Thursday, Oct. 12, 2017, a major breakthrough on its platform: instant purchases of cryptocurrencies bitcoin, ethereum, and litecoin:

“We are excited to announce the ability for customers to instantly purchase digital currency using a U.S. bank account. Previously, customers who purchased using a bank account had to wait several days before receiving their digital currency. Customers can now buy up to $25,000 and receive access to their digital currency immediately.

Our mission is to make Coinbase the most trusted, safe, and easy-to-use digital currency exchange. Instant purchases make it significantly easier and faster for customers to invest in the digital currency ecosystem. Reducing the time to receive digital currency has been a highly requested feature and we are pleased to provide this improved experience for our customers.”

Bitcoin price index chart. Source: WorldCoinIndex                                                                                              As Bitcoin breaches all-time highs,  JP Morgan Chase CEO Jamie Dimon said Thursday that he wasn’t going to talk about Bitcoin anymore.                                                                                                                                                                                                                                                                                                        Dimon has said previously that bitcoin is a fraud. Wallstreet CEOs such as James Gorman of Morgan Stanley and Lloyd Blankfein of Goldman Sachs have been more open-minded to crypto being massively disruptive in the future.

Another bullish support headline for crypto also dropped this morning when International Monetary Fund Managing Director Christine Lagarde said she sees “massive disruptions” with financial technologies and digital currencies. She said she would not rule out the IMF developing its own digital currency, and she was dismissive of Dimon’s crypto bearishness, according to CNBC:

“I think we should just be aware of not categorizing anything that has to do with digital currencies in those speculation, Ponzi-like schemes,” she said. “It’s a lot more than that as well.”

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