Bitcoin Currency Surpasses 20 National Currencies In Total Value

Posted by samzenpus on Friday March 29, 2013 @05:11AM from the fake-money dept.

Velcroman1 writes "More than $1 billion worth of bitcoins now circulate on the web – an amount that exceeds the value of the entire currency stock of small countries like Liberia, Bhutan, and 18 other countries. Bitcoin is in high demand right now — each bitcoin currently sells for more than $90 U.S. — which bitcoin insiders say is because of world events that have shaken confidence in government-issued currencies. 'Because of what's going on in Cyprus and Europe, people are trying to pull their money out of banks there,' said Tony Gallippi, the CEO BitPay.com, which enables businesses to easily accept bitcoins as payment. 'So they buy gold, they put it under the mattress, or they buy bitcoin,' Gallippi said."

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Bitcoin could reach 1 million per coin in value by elucido · 2013-03-29 05:36 · Score: 1, Troll

And when that happens you'll all wish you bought 1000 coins for a few cent. Now look at you all rushing to pay $100 per coin. By this time next year it will be $1000 per coin. A year later it will be $5000. Then 6 months later it could be $20,000, then $100,000, etc.