Bitcoin prices moved higher Wednesday, trading above $6,500 for the first time since mid-October.
A single bitcoin
was last changing hands at $6,523.57, up 1.3% since Tuesday at 5 p.m. Eastern Time on the Kraken exchange. The move higher in the world’s largest digital currency has dragged the market cap for all cryptocurrencies above $220 billion for the first time in a month, according to data from CoinMarketCap.
Read: Opinion: Voting by blockchain could add new risks to our elections — including fraud
Tuesday’s midterms weren’t a complete nonevent for the crypto community. In Colorado, voters elected a pro-crypto and blockchain governor in Jared Polis. The Democrat has long campaigned for decentralized technology to help local business.
“As governor, I will ensure that Colorado explores the potential use of blockchain technology and works alongside the business community, policy experts, local communities, and Coloradans to build a robust economy for the future,” he wrote in a blockchain campaign paper.
Elsewhere, Gavin Newsom was elected governor of California. The Democrat was one of the first politicians to accept donations in bitcoin back in 2014.
Read: Mining bitcoin is 3 times more expensive than mining gold, research paper finds
What are altcoins and futures doing?
Altcoins, the collective group of coins other than bitcoin, are off to a mixed start Wednesday. Ether
was trading 1.5% higher at $219.05, Bitcoin Cash
was up 2.8% at $630.80, Litecoin
lost 0.2% to trade at $54.74 and XRP,
was down 1.6% at 53 cents.
Bitcoin futures rose with spot prices. The Cboe Global Markets November contract
was up 1.3% at $6,500, while the CME Group November contract
was also up 1.3% at $6,500.
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