Business

Having traded in a relatively narrow - for bitcoin - range of $16,500-$17,500 over the past week, the world's most popular cryptocurrency jumped to new all time highs following the latest (unexplained) burst of buying out of Asia, with another Saturday surge in volumes emerging out of Japan and Korea.

Bitcoin is now up over $1,200, or 7%, in the past 24 hours, last trading at a new all time high of $19,000 on the coinbase exchange.

Bank of Canada Governor Is Right To Be Worried About The Economy

Written by Peter Diekmeyer, Sprott Money News

Bank of Canada governor Stephen Poloz cited numerous worries plaguing the economy during his speech to Toronto’s financial elites yesterday at the prestigious Canadian Club.

However, the title of Poloz’s presentation, “Three things keeping me awake at night” seemed odd, given positive recent Canadian employment, GDP and other data.

Less than a year after Japan legalized bitcoin as legal tender, part of the country’s effort pioneering effort to develop a comprehensive regulatory framework for incorporating - and regulating - digital currencies, one Japanese company is offering employees the option to be paid in bitcoin.

Shares of Alibaba fell on Thursday morning, despite an exciting news story involving the Chinese e-commerce juggernaut, which is rushing to shake up the way people buy cars in China. Alibaba seems to be taking a page from Amazon’s acquisition of Whole Foods, with the continued push into physical retail. The plan outlined by Alibaba, is to open two giant car vending machines in early 2018, shaped like a futuristic tubular building with a giant cat’s head on top.