25 Mar '13, 2pm

Facing Financial Crises, Spain Turns to Bitcoin

In the midst of Spain's financial crises, a record number of its citizens are turning to Bitcoin, an online virtual currency used to exchange goods and services. Downloads of Bitcoin's mobile applications hit record highs in Spain after it was announced that the nation of Cyprus risked defaulting due to its exposure to Greek banks. "Compare their download histories to those from a country like the UK and it's clear that the upward trend is more pronounced in the more at-risk nation. Bitcoin Gold's all-time high ranking of 83 in Spain came on 17 March; for Bitcoin Ticker, 68 on 17 March."

Full article: http://bigthink.com/ideafeed/facing-financial-crises-spai...

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