Recapping the day's news and newsmakers through the lens of CNBC.
Lots of us are only vaguely aware of bitcoin, imagining the virtual currency is, well, something computer gamers use to buy ray guns. In fact, it's real currency that hit an all-time high today, up more than 25 percent in a single day, and at least 11-fold over the past year, as more investors become aware of it and more confident about putting it to use—even to pay for sandwiches at Subway. The future, though, is cloudy, as various regulators consider tightening the rules for bitcoin use and trading. Congressional hearings were to start this afternoon. Regulators have concerns about possible money laundering, but merchants are starting to discover that bitcoin's fees are lower than credit cards fees.
"I think it's awesome. I feel like once the word gets out, it could really spread like wildfire."—Adam Welsh, a customer who used bitcoin to buy a Subway sandwich in Allentown, PA
"Credit card transaction fees are going to average 2 percent to 3 percent, with some as high as 5 percent. So with bitcoin you pay less than 1 percent."—Brooklyn store owner Daniel Lee