Bitcoin price exceeds $1000.00 for the first time ever, but it could climb even higher in coming months!

We have covered the story behind the cryptocurrency Bitcoin before, but now more than ever the online currency Bitcoin is turning heads from Tokyo to Wall Street.

Today (Wednesday 27th November 2013) the value of single bitcoin surpassed the $1000.00 ( or around 650 Great British Pounds).

Digital Currency Set To Change International Finance?
Digital Currency Set To Change International Finance?

Many articles, blogs, and videos across the web have claimed the US Senate hearing on cryptocurrency has been the main reason for the rising value, while other commentary found on the likes of forums has commented on the recent surge in popularity from Chinese markets. Whatever the reason for the surge in value and popularity of this cryptocurrency, we can be rest assured that this currency is starting to wake up all types of people in government authority and beyond.

Much of the media attention surrounding bitcoin has focused exclusively on the criminal uses of the currency, which in my honest opinion could easily be paralleled with any currency used to obtain illegal goods or services. You cannot blame the Bank of England for a drug dealer using a Bank of England banknote, in much the same way you cannot claim bitcoin if someone uses the currency to commit an illegal act.

Looking towards the positive aspects of Bitcoin, you can be sure the world is indeed in need of a cheap and effective way to transfer to funds across borders fast and effectively. This is something that still seems to take forever and cost a great deal of money, especially when we live in the internet age of instant communication.

Bitcoin could go to $1million per coin, effectively it could go beyond everyone’s expectations and even exceed this figure; but it is all speculation at this moment in time. 

 

 

 

 


Get CONSETT MAGAZINE straight to your inbox.

* indicates required

Previous articleCalling All Savvy Parents
Next articleDecember at Consett AFC
Consett Magazine
The Consett Magazine Editing team lovingly ❤️ publishes local news from a variety of local people and sources. Please see the individual article for post specific source(s). Consett deserves good news. Submit your own story or call 01207 438292 for advertising and marketing campaigns.

LEAVE A REPLY

Please enter your comment!
Please enter your name here