What can only be seen as another step forward for the alt-currency sector as a whole, the Federal Reserve Bank of St. Louis is now actively keeping tabs on the prices of four top virtual currencies.
According to an official post released on the bank’s web page, their native database called the Federal Reserve Economic Data (FRED) will now monitor the prices of:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ethereum (ETH)
- Litecoin (LTC)
Pertinent data in relation to the aforementioned currencies will be available from as early as 2014. Prices will be updated in real-time via data that is procured from leading crypto-exchange, Coinbase.
In the past, the Federal Reserve Bank of St. Louis has been linked with many research studies in relation to alt-assets, particularly Bitcoin. Not only that, the bank has also taken a progressive stance towards blockchain, giving the technology an overall favourable assessment time and again.
Last month, President of the St. Louis Fed, James Bullard, spoke to CNBC and said that
“we think blockchain technology is very interesting [..] we want to be very engaged and thoughtful [with it] as things proceed.”
He also mentioned that owing to the climate of disruption that we are currently living in, it would not be surprising if Bitcoin starts to rival the US dollar in the near future.
Looking to advertise?
We will gladly help spread the word about your project, company, or service.
CryptoMode produces high quality content for cryptocurrency companies. We have provided brand exposure for dozens of companies to date, and you can be one of them. All of our clients appreciate our value/pricing ratio.
Contact us if you have any questions: [email protected]
