Friday, May 26, 2017

Central Banks Refrain From Regulating Bitcoin

Demand Surges As Risk Appears Minimal With both the popularity and value of Bitcoin soaring (in spite of rapid, fierce price corrections that quickly subside), central banks around the world have taken notice. While some banks feel threatened by what is described as an alternative currency, the central banks around the globe this week were busy making waves in the world of Bitcoin. However, no central bank has outlawed transactions in Bitcoin, although the Chinese central bank this week issued a ruling that the country’s banks shouldn’t get involved in Bitcoin. This caused another fierce selloff on the major Bitcoin …continue reading

Prominent Hedge Fund Founder Says Bitcoin Could Reach $1 Million

Founder of Eclectica Asset Management Says He Would Buy Bitcoin Founding partner and chief investment officer of Eclectica Asset Management, Hugh Hendry, told Investment Week that he would buy Bitcoin with his fund if it was traded on a regular exchange. Speaking very positively about Bitcoin, Hendry said, “This is the environment where Bitcoin could go to $1million.” From the Investment Week story: “Eclectica’s Hugh Hendry has said he would buy into online currency Bitcoin if it were feasible to do so within his funds. Hendry has bought 3D printing stocks as a play on trend-driven, QE-fuelled equity markets, and …continue reading

Bitcoin Could Reach $98,500 According to Wall Street Analysts

Wedbush Securities Takes an Extremely Positive View of Bitcoin Coindesk is quoting a report from analysts Gil Luria and Aron Turner of Wedbush Securities in which the acclaimed Wall Street analysts (Wedbush Securities was named top stock picking firm in 2012) believe that the value of Bitcoin could top $98,500 each, joining a growing number of analysts who are publicly stating that Bitcoin could reach six-figures. Back in May, Ex-Facebook executive Chamath Palihapitiya stated in a Bloomberg story, “If bitcoin grows into something bigger – a useful reserve currency, then watch out: Its value will far exceed $400,000.” Coindesk reports: …continue reading

Silicon Valley Catches Bitcoin Fever

A Mad Rush To Build A New Digital Finance Industry The Financial Times has published a full length article describing how California’s Silicon Valley has taken a strong interest in the digital finance industry surrounding Bitcoin. Richard Waters, writing from San Francisco, describes multiple venture capital firms taking a stake in the Bitcoin field. FT.com reports: “Silicon Valley is starting to catch Bitcoin fever – though the entrepreneurs and venture capitalists being drawn to the virtual currency claim that the biggest profits will come from using it to build a new digital finance industry rather than just as a vehicle …continue reading

Mobile Phone Company in China Now Accepts Bitcoins

Jiangsu Telecom is 3rd Largest Mobile Network in China A few years ago, about the only thing you could buy using Bitcoin was Alpaca socks. Fast-forward to late 2013, and the number of merchants accepting Bitcoins is beginning to skyrocket. Last week we reported that the largest university in Cyprus began accepting Bitcoin as payment for tuition and other fees. Then we reported that Virgin Mobile founder Richard Branson was a fan of Bitcoin and had accepted the digital currency as payment for a space flight by his company Virgin Galactic. And now we are please to report on another …continue reading

Bitcoin Tops $1,000

Up Nearly 100-to-1 in 12 Months It was a mere 10 days ago that we reported the value of Bitcoin had surpassed the $500 level for the first time. Fast-forward ten days to this morning, and the price of one Bitcoin has surpassed the $1,000 mark. Wired reports on the milestone: “The value of a bitcoin has topped $1,000, a mere 11 months after the fledgling digital currency was worth little more than a $10 bill. As of 7:25 a.m. Pacific time this morning, bitcoins were trading at $1,041 on Mt. Gox, the world’s most prominent bitcoin exchange, a place …continue reading

Bitcoin To Hold Its Own Black Friday

Hundreds of Merchants to Participate on “Bitcoin Friday” In another sign that Bitcoin is beginning to go mainstream, approximately 500 merchants are anticipated to participate in Bitcoin Black Friday. CNN reports: “Hundreds of merchants will be joining “Bitcoin Friday” on Nov. 29, selling everything from Christmas trees to clothes, to web domains. Bitcoin Friday deals include unlocked phones from GSM Nation and discounted plane tickets from Cheapair.com. OKCupid, which has been accepting bitcoins since April, will be participating as well. Media outlets are jumping into the Bitcoin deals bandwagon too: GOOD Magazine is giving away $5 discounts for subscriptions and …continue reading

Bitcoin Up 6,000% Since Start of Year

Best Performing Asset on the Planet With surprisingly little fanfare, Bitcoin has racked up an amazing feat: a 6,000% increase in value since the beginning of the year. This places it as the best performing asset class on the planet, bar none. While anyone can simply look up the historical price to determine the percentage increase, the number was buried deep within a New York Times story that was somewhat slanted against Bitcoin. Buried eight paragraphs down was the sentence, “Since the beginning of the month, the value of bitcoin rose to more than $900 at one point, from $200, …continue reading

Global Bitcoin Conference Coming To Toronto

Conference Will Focus on Growth and Development of Bitcoin The Bitcoin Alliance of Canada is planning one of the largest Bitcoin events to date which will feature many prominent Bitcoin leaders, speakers, and businesses. The Expo will take place at Metro Toronto Convention Center, Canada’s largest conference and meeting facility, on April 11th-13th, 2014. Tickets are not yet on sale, but are planned to be available in January. From the Letter of Invitation: “On behalf of the Bitcoin Alliance of Canada, I wish to invite you to one of the largest planned international Bitcoin events to date. Join us on …continue reading

Virgin Mobile Founder Endorses Bitcoin

The Billionaire Calls Bitcoin “A New Exciting Currency” The Billionaire founder of Virgin Mobile formally endorsed Bitcoin during an interview on CNBC. He described Bitcoin as “a new exciting currency” and tweeted that he would accept Bitcoin as payment for a ride to space provided by his space airline, Virgin Galactic. From CNBC: “Billionaire entrepreneur Sir Richard Branson announced on CNBC’s “Squawk Box” Friday that his commercial space flight venture will accept bitcoin as payment. He called it “a new exciting currency.” Virgin Galactic accepted its first purchase with bitcoin from a flight attendant in Hawaii. Branson—an early bitcoin investor …continue reading

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