A software upgrade to make bitcoin's underpinning network faster has officially reached its lock-in threshold.
And that has the CEO of one bitcoin exchange bullish about the coin's future price.
The so-called Segregated Witness, or SegWit, is a solution to the years-long debate over how to improve the coin's scalability and make it faster to process more transactions.
As bitcoin has gained traction among consumers, its network, which was built to only handle a set number of transactions, has slowed.
"SegWit is a clever solution that essentially increases transaction capacity for the original bitcoin," according to Aaron Lasher, the chief marketing officer of Breadwallet, a bitcoin wallet company.
Some miners who didn't think SegWit went far enough completely forked from bitcoin's original blockchain network to form the new bitcoin cash cryptocurrency.