The fastest bikes in the world aren't uprights, they're recumbents with streamlined fairings. The world-record holder is this one (although for a distance of 200 meters rather than a time of 1 hour): http://www.gizmag.com/human-powered-speed-record-2013/29103/ The UCI bans recumbents in all racing competitions however: https://en.wikipedia.org/wiki/Recumbent_bicycle
I suppose that really depends on what your definition of "fastest bike" is. Recumbents have gotten to 80mph - maybe topping out at 100mph. Eric Barone took his mountain bike to 130 by riding down a mountain. Matt Hoffman got a bit faster than that by jumping out of an airplane with his. François Gissy got a bit faster than that by strapping a few rockets on – 207mph. The UCI didn't bother to recognize this records ei…
http://www.stuff.tv/features/tour-de-france-contender-mark-c...