Federal Reserve Bank of St. Louis Adds Crypto Price Tracking to Research Database
The Federal Reserve Bank of St. Louis will now be tracking the prices of BTC, BCH, LTC, and ETH in its research database, using price data from Coinbase.
The Federal Reserve Bank of St. Louis will now be tracking the prices of four cryptocurrencies on their research database, according to a June 19 post on the bank’s website.
The database, called the Federal Reserve Economic Data (FRED), will now include the prices of Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) from as early as 2014 to the present. The prices will be updated daily with data obtained from U.S.-based cryptocurrency exchange and wallet Coinbase.
The Federal Reserve Bank of St. Louis has often been in the news for their research and statements about cryptocurrencies and blockchain. In January, a paper published by the bank gave an overall favorable assessment of crypto and blockchain use in the future. In mid-May, the president of the St. Louis Fed said in an interview that he didn’t rule out Bitcoin as a potential future threat to the dollar.