What Is Behind the Bitcoin Boom?

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Nov. 11 (Bloomberg) -- On today's "The Agenda," Tom Keene, Sara Eisen and Scarlet Fu look at trending news stories on Bloomberg Television's "Bloomberg Surveillance." (Source: Bloomberg)

Major stories shaping the day at the top of your agenda?

Wax the dow jones, a zeitgeist and if you forward, 6751, all weekend, doom and gloom getting out of stocks.

If you are in the market, for me in december getting things to slow down in a week or two as we get into the holidays?

This is amazing for everyone.

The pros and non--- pros who are watching, you have to do this in the market.

Elon musk talking about the exuberance in his sock, tesla, is that something that you would ever do, john?

For the most part we just kind of run the business and people will value was how they value us.

They are expecting very strong growth.

We have been delivering 40%, year-over-year.

Our earnings last week were 41%. the stuff that we have in our 401(k)? not zillow.

Is zillow in the 401(k)? we should.

Our agenda has to do with a company reporting earnings.

News corp., publishing the old- school newspaper magazine unit of news corp., reporting after the bell, their first full quarter since splitting off from 20 century fox.

In usa today -- "usa today," they wrote that rupert murdoch is enjoying a bit of a renaissance.

Remember, the split between news corp.

And the movie unit was forced upon him.

It was painful, but now he finds himself with a new company that has a rising share price, they're very purpose is to manage newspapers.

No one is telling him he should not he worried about newspapers anymore, he is back in the action.

It is cool.

It is really a real estate company now.

They own 60% of the rea group.

It is the zillow of australia, one of the most valuable assets there.

It is less forgotten about now.

Clearly it was forgotten about before.

Every conversation ends with real estate at his cocktail parties.

Is zillow a real estate company or a media company?

We are media company.

I would say you are disrupting both.

Because of the algorithms and the software.

That is how we attract the software.

Bitcoin, seriously, this is the agenda item, digital currency has it a record high, depending on where you look, everyone is bashing it, including tom keene, it is gaining in legitimacy and value.

Also on the agenda, u.s. senators are meeting to discuss the digital currency, it will be the subject of a number of rational senate hearings before the homeland security committee, they are trying to figure out whether the illegal activity is getting fueled by bitcoin.

I know that you don't buy it.

I am skeptical of bitcoin.

I just think that there is too much shadiness associated with a currency that is not maintained by some sort of government or central bank and i think it will blow up at some point with some big scandal where someone loses $50 million, $100 million.

I am a bit more optimistic.

Starting a currency backed by computing cycles will cost a ton of volatility, but it would take years to work that computing out . i will believe it when christine lagarde folds it into imf.

They have done paperwork on

This text has been automatically generated. It may not be 100% accurate.

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