23 Oct '13, 7pm

Five Reasons For Bitcoin's Most Recent Price Surge

Five Reasons For Bitcoin's Most Recent Price Surge

Buying illegal things online is one of the most talked about uses of the cryptocoin. And the biggest marketplace to get those illegal things was Silk Road. When the feds took it down and arrested the alleged founder, Ross Ulbricht, 29, the price of Bitcoin briefly dipped, but quickly recovered. This may have reassured Bitcoin investors. The fact that the currency recovered is a sign that buying drugs isn’t the only thing people like to do with their Bitcoins. (There’s also wine and cupcakes you can buy with BTC.) Those wary of buying a drug currency may like that it’s harder to buy drugs with Bitcoin now (though there is a competitor hoping to take Silk Road’s place).

Full article: http://www.forbes.com/sites/kashmirhill/2013/10/23/five-p...

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