The price was around $45,100 per coin, while rivals Ethereum and Dogecoin were trading around $3,030 and 29 cents per coin, respectively, according to Coindesk.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Concerns about cryptocurrencies were raised Tuesday by Neel Kashkari, president of the Federal Reserve Bank of Minneapolis.

“I was more optimistic about crypto and bitcoin five or six years ago,” said Kashkari. “So far what I’ve seen is … 95% fraud, hype, noise and confusion.”

Kashkari made the comments during an appearance at the Pacific NorthWest Economic Region annual summit in Big Sky, Montana, and reported by Coindesk. https://www.foxbusiness.com/markets/bitcoin-price-8-18-2021