Bitcoin Rallies After Federal Hearing04:15
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Bitcoin tokens are pictured at a shop in Sandy, Utah, April 3, 2013. Software engineer Mike Caldwell mints physical versions of bitcoins with codes protected by tamper-proof holographic seals. (Rick Bowmer/AP)
Bitcoin tokens are pictured at a shop in Sandy, Utah, April 3, 2013. Software engineer Mike Caldwell mints physical versions of bitcoins with codes protected by tamper-proof holographic seals. (Rick Bowmer/AP)

The virtual currency known as Bitcoin is under scrutiny today on Capitol Hill.

Federal authorities are assembled for Senate hearings yesterday and today to take a closer look at the digital money.

After the hearing, the value of Bitcoin — which exists as software and is currently unregulated — surged. The currency has quadrupled in value over the past two months.

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This segment aired on November 19, 2013.

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