The price for bitcoin reversed course from its upward trajectory Tuesday morning after a reported hack of $31 million from Tether, a digital currency. But bitcoin quickly regained lost ground after Tether developers stated they had written new software to “freeze” the funds, effectively making it impossible to withdraw or move the money.

The new build (or version of software) is a hard fork for the cryptocurrency. “After the protocol upgrades to the Omni Layer are in place, Tether will reclaim the stolen tokens and return them to treasury,” the company stated. (See more: Tether Hack: Cryptocurrency Worth $31 Million Stolen.)

Bitcoin was trading at $8,263.83 this morning and lost $500, or approximately 6%, of its value after the Tether hack was reported. At 14:21 UTC, bitcoin was trading at $8,232.63, unchanged in its price and valuation from 24 hours ago.

The hack does not seem to have had a material impact on price movements for other cryptocurrencies in the top 10 most-traded digital currencies. Among them, Dash continued its rise, gaining 15% in the last 24 hours to trade at $512.72.

Dash is in the middle of a network-wide upgrade called version 12.2, as reported by Investopedia's Nathan Reiff. (See also: Dash Price Climbs 60% As Cryptocurrency Market Dips.) Among other things, the upgrade increases block size to 2MB, reduces transaction fees, and enhances security for the cryptocurrency network.

Neo, a Chinese smart economy cryptocurrency, registered the biggest decline among the top 10 most-traded cryptocurrencies, falling by 14% to trade at $35.50. The decline comes after a boost to its price this past weekend, during which Neo’s price jumped over $42.

Neo has declined in price with bitcoin's gains and a ban on bitcoin trading in China. (See also: Neo Cryptocurrency Suffers As China Bans ICOs.) The overall market capitalization for cryptocurrencies was $243 billion, almost unchanged in the last 24 hours, at 14:41 UTC.

$10,000 Price Target And Hedge Funds Using Blockchain

Even as hacks influence bitcoin’s price, institutional investors are taking a second look at the cryptocurrency and the technology underlying its platform, blockchain. AQR, a quantitative hedge fund with $208 billion under management, said it will begin investigating ways to incorporate blockchain into its platforms.

“How long (the technology) takes to get there and what becomes the standard is unclear," said AQR co-founder David Kabiller. "There’s a big entrenched infrastructure there, but there is potential for more efficiencies that can be gained by blockchain."

Former U.S. presidential candidate Ron Paul has also thrown his hat in the bitcoin ring by promoting bitcoin retirement funds on Fox News. He has previously touted the cryptocurrency as a replacement for the U.S. dollar.

Billionaire Michael Novogratz, who started a $500 million hedge fund for cryptocurrencies, predicted that bitcoin would go up to $10,000 by the end of 2017 in an interview with Bloomberg. He said investors have had an “interestingly receptive” response to his hedge fund.

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