Bitcoin value spike

Bitcoin experiences a spike in value that sees its price rise above $450, while Canadian cryptourrency maplecoin receives backing from an unusual reserve asset.

After a week of hovering around the $445 (£264) mark, bitcoin has experienced a relative spike in value over the last 24 hours.

Over the course of a couple of hours, the cryptocurrency’s price rose from $444 to $457. While its value has subsequently dipped slightly, bitcoin still remains above the $450 mark.

Where bitcoin goes, others follow, as major cryptocurrencies like dogecoin, ripple and litecoin also experienced a brief surge in value.

Bucking the trend once again was darkcoin, with the prolific rise of the anonymity-focused altcoin stalling briefly as its price dipped below $7.

Maplecoin backed by Maple Syrup

Maplecoin, the national cryptocurrency of Canada, has become the first ever cryptocurrency to be backed by an internationally recognized reserve asset: Maple Syrup.

A permanent fixed exchange rate of one maplecoin to one millilitre of Maple Syrup has been established through the creation of the Maplecoin National Syrup Reserve.

Users of maplecoin will therefore now be able to cash in their cryptocurrency for pots of syrupy deliciousness through the syrup reserve.

“You will be required to turn over to us one maplecoin per milliliter of Maple Syrup exchanged, ” said the maplecoin developer team in a statement. “We will ship with a Certificate of Authenticity from the maplecoin National Syrup Reserve certifying an asset exchange.”

Brock Pierce to remain as Bitcoin Foundation director

Bitcoin Foundation director Brock Pierce has stated that he will not step down from the board following recent accusations concerning sex abuse allegations that date back 14 years.

“It would set a bad precedent for the Foundation, rewarding those who make scurrilous accusations and engage in character assassination, often anonymously, ” Pierce wrote.