While the legitimacy of the bitcoin is still being debated, a number of major financial institutions are keeping a watchful eye on its development.

Maria A. Arias, Research Analyst,  and Yongseok Shin, Senior Economist both of the Federal Reserve Bank of St. Louis, recently published a paper titled, “There Are Two Sides to Every Coin—Even to the Bitcoin, a Virtual Currency”, that discussed the bitcoin in more detail.

U.S. Dollar Value of 1 Bitcoin