17 May '13, 10pm

A bitcoin bubble could be good for everyone

A bitcoin bubble could be good for everyone

It does have all the characteristics. Since February 2009, when it was first introduced, bitcoin has overcome initial skepticism and gone from mere curiosity to a billion-dollar market. About 11 million bitcoin have been mined since the crypto-based currency was introduced, and at a price of $115, it has a combined value of $1.3 billion. As the money supply has increased, so too have the number of businesses that will accept bitcoin. Investment is beginning to flow to companies trafficking in the currency. Recently Union Square Ventures announced a $5 million investment in Coinbase, which operates as an exchange. Liberty City Ventures, another New York-based VC firm, has a $15 million bitcoin fund to invest in startups. Boost VC plans a Bitcoin-related seed fund. Peter Thiel’s Founder’s Fund, is leading a $2 million round for BitPay, a businesses payments processor that wo...

Full article: http://pandodaily.com/2013/05/17/a-bitcoin-bubble-could-b...

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