This virtual coin, which was only 4 years old, once considered a shallow and elegant device, was only used by criminals and drug dealers. But in recent weeks, he has gained new confidence from all sides and his performances in China have been remarkable. However, it is necessarily a global financial experiment, and its long term remains uncertain.
Despite everything, Bitcoin inaugurated a wonderful rite to maturity. This four-year-old virtual coin was once regarded as an unre modern device, used only by criminals and drug dealers. But in recent weeks, he has gained new trust from all sides. Investors in the United States and China are increasingly convinced that this chosen currency will gain advantages for ordinary consumers in the future.
The United States Congress held a hearing on this financial tool for the first time. After police and senior officials cleared the virtual currency on Monday, the price of Bitcoin reached a new high, reaching 700 US dollars (then increased to 900 overnight. USD).
Deputy Chief Prosecutor McZillie Raman said virtual currencies are legal and “have the ability to advertise more effective global trade.” Although not subsidized through the central bank, Fed President Ben Bernanke expressed similar views. In a letter to the senator, he said virtual currencies “can be promising in the long run, especially if those inventions create faster, safer and more effective payment systems.”
On the same day, it emerged that BTC China, the world’s largest bitcoin trading company, had gained smooth-speed, smooth-speed venture capital (BTC) partners from institutional investors. Lightspeed Venture Partners) $5 million in the first financing.
Steps in bitcoin growth
These advances show that things are changing. Last month, the federal government got rid of a gang of online drug dealers called Silk Road, and all of its transactions were made in bitcoin. This stock caused a large sale of Bitcoin. After the site was banned, the value of Bitcoin fell to 20%. This could have been a scenario at that time, however, this hit may be a smart thing for this coin because it is helping to eliminate the dark aspect of Bitcoin and bring it closer to the classic monetary system. Learn more about https://weedprofitsystemapp.com/
Since the end of the Silk Road, Bitcoin has begun to grow sharply and it doesn’t matter if it is expanding in the United States. In recent weeks, it is China that has a particularly higher value of Bitcoin. According to Bitcoin charts, which specializes in offering Bitcoin data, approximately one-third of Bitcoin transactions are made through the BTC China trading platform, which is only open to Chinese users. The corporate recently replaced Mt. Gox in Tokyo as the largest bitcoin exchange in the world. Company executives said they planned to use the latest financing circular to “achieve immediate expansion and grow their business.”
Why does Bitcoin have a comfortable place for China? Although the Chinese government is known for its strong intervention in the economy, it is unexpected that it did not interfere this time in the Bitcoin market. The Bitcoin market has been volatile, but its value has increased more than 30 times this year.
At a Bitcoin convention in Singapore last Friday, Yang Linke, vice president of BTC China, told Agence France-Presse that the explanation for why this currency is so popular in China is that Chinese like to save cash. Bitcoin is seen as a tool to save cash and invest. A few weeks before saying this, Baidu, called Google in China, began accepting bitcoins for some of the facilities provided through its subsidiary, Jiasule.
But before encouraging Bitcoin’s long-term, it deserves to be under pressure that the big investment in Bitcoin still bets on its forward-looking and increasingly complex trading technologies, and its practical use falls second. Experts say that before Bitcoin can enter the mainstream and be accepted by consumers, it has yet to succeed over many obstacles. Sites like WordPress and Reddit have already started accepting bitcoin payments, but according to David Roger, a Columbia University professor who specializes in virtual marketing, this is largely a large-scale cash experiment conducted around the world.