30 Jun '15, 10am

Hellascoin: Greek bitcoin rival doubles in value as Grexit looms - International Business Times UK

Hellascoin: Greek bitcoin rival doubles in value as Grexit looms - International Business Times UK

A bitcoin-like cryptocurrency in Greece has surged in value since the beginning of June and continues to rise as fears of a Greek exit from the eurozone reach a critical point. Hellascoin has more than doubled its market cap since the start of the month, dwarfing the percentage gains made by bitcoin in the same period, and prompting cryptocurrency proponents to predict that the altcoin will play a significant role within the Greek economy in the future. Greece looks set to default on a debt repayment to the IMF on 30 June of €1.5bn ($1.7bn, £1.06bn), causing banks to be closed and limits on cash withdrawals from ATMs to be put in place. On Sunday (6 July), a 'no' vote in a referendum will see the country taking the first steps towards leaving the euro. Helascoin's value has more than doubled since the beginning of June (Hellascoin) In the face of such economic uncertainty,...

Full article: http://www.ibtimes.co.uk/hellascoin-greek-bitcoin-rival-d...

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