REFILE-Biting back: bitcoin heads for best month in 1-1/2 yrs

(fixes headline)

By Jemima Kelly

LONDON Oct 30 (Reuters) – Bitcoin has just recorded its
best month since May 2014, stealing the spotlight away from the
blockchain technology that underpins it and which has been
attracting investment from almost every major bank in the world.

An investor in bitcoin at the start of October would have
enjoyed a return of over 36 percent, dwarfing the
return of about 2 percent that the dollar racked up for its

The web-based currency surged to its highest this year on
Friday, hitting $334.05 on the Bitstamp exchange on
its ninth successive day of gains, its best run in over two

Bitcoin is used as a vehicle for moving money around the
world quickly and anonymously via the web without the need for
third-party verification. That has made it controversial, but
also attractive, to users ranging from drug dealers to those
trying to circumvent capital controls in Greece and China.

Some bitcoin traders speculate that the latter might be
partly responsible for the digital currency’s latest surge. Most
trading in the past month has come from Chinese bitcoin
exchanges, according to, though the accuracy of

Read more ... source: TheBitcoinNews