28 Dec '15, 2pm

#bitcoin

It would have been easy to dismiss bitcoin after a surge that had taken the digital currency's price over $1,000 on some exchanges crashed in late 2013, but it's back, up more than 40 percent this year to a value of $428. And bitcoin backers say despite all of the detractors and the 2013-14 doldrums, the controversial digital currency will continue up, as the number of bitcoin users and transaction volumes around the globe surge. "We're seeing this up and to right growth in transactions," said Coinbase vice president Adam White. "That's the utility value going up as people use it more." The number of financial institutions — as well as self-regulatory bodies, like the Depository Trust Clearing — endorsing the blockchain technology has given credit and value to bitcoin. "It's gone from cool tech 'I don't understand' to more mainstream," White said.

Full article: http://www.cnbc.com/2015/12/28/only-one-global-currency-t...

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