25 Jun '14, 8pm

Speculators Seek to Cash In on Bitcoin Domain Name Boom

Speculators Seek to Cash In on Bitcoin Domain Name Boom

Bitcoin isn’t the only digital asset changing hands for lots of money these days. The cryptocurrency has spurred a rising trade in associated domain names, with popular domains sometimes changing hands for hundreds of thousands of dollars. Some domain name investors and brokers believe bitcoin has opened a new category in the sector. Niko Younts is one such investor, and with good reason. It was he who sold the BitcoinWallet.com domain name for $250,000 in February , setting the high watermark for the category. The sale of the domain gave a return of nearly 23 times the initial investment, he told CoinDesk, having purchased it for $11,000. Low-hanging fruit “When I first dove into bitcoin in the fall of 2013 [...] I knew almost immediately that bitcoin was going to be hot global news, and there would be countless opportunities in the premium domain space related to this co...

Full article: http://www.coindesk.com/speculators-seek-cash-bitcoin-dom...

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