01 Apr '13, 7pm

Bitcoin Holds More Value Than the Entire Currency Stock of 20 Nations

Bitcoin Holds More Value Than the Entire Currency Stock of 20 Nations

Credit: TraderTim / Foter.com / CC BY-SA As was noted earlier on Reason 24/7 , Bitcoin now holds more value than the entire currency stock of 20 nations. Granted, the 20 nations in question (which include Bhutan, Guinea-Bissau, Samoa, and the Central African Republic) do not include influential economic powers, but the fact that Bitcoin is now worth over $1 billion is worth noting. Bitcoin has exploded in value over the past few weeks, with some citing the crisis in Cyprus as the wakeup call that has some in Europe putting their money away from the hands of governments that are wreaking havoc with Europe’s economies. However, as BitPay.com CEO Tony Gallippi has pointed out, American regulations, which made the legal status of online currencies clearer, have contributed to demand for Bitcoins. From Fox News: Bitcoin demand has also increased, Gallippi says, because last wee...

Full article: http://reason.com/blog/2013/04/01/bitcoin-holds-more-valu...

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