27 Jun '16, 2pm

Another Brexit winner: Bitcoin

Another Brexit winner: Bitcoin

Hard-working Britons with their life savings stashed in British pounds woke up Friday morning about 8 percent poorer after their country voted to leave the European Union. Meanwhile, bitcoin investors were shielded from the Brexit news: They enjoyed an almost 9 percent jump in the value of their holdings. It's the type of event that bitcoin enthusiasts, many in the technology industry, have anticipated because of growing political and economic instability in many regions of the globe. Meanwhile, legions of skeptics have criticized the cryptocurrency as a high-risk bet on an unprotected and unregulated alternative to money. "Bitcoin is effectively becoming digital gold," said Ashvin Bachireddy, co-founder and general partner at Geodesic Capital, a Silicon Valley venture capital firm that backed bitcoin start-up 21 Inc. "You can continue to see further validation of bitcoin ...

Full article: http://www.cnbc.com/2016/06/27/bitcoin-gains-validity-as-...

Tweets

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#bitcoin #innovation

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