Bitcoins have been so volatile ever since they came around, that conservative people decided to stay away from them. As always, early adopters and risktakers are the ones who benefit the most from the latest discoveries. The use of crypto currency initially appealed to tech savvy people and those who cherish privacy above everything else. The uncertainties as well as the fear of a strong government intervention caused many people to steer clear. Once again, there is a strong light at the end of the tunnel and the premises for accelerated growth in 2017.
Bitcoin Sets Major Milestones in Q1
The number of people using the crypto currency has increased even faster than its ownership. Not all of those who choose to pay in Bitcoin also regard it as an investment. The bottom line is that we have more users than people holding on to it, hoping that its value will rise. Its widespread had a couple of unexpected consequences, such as a surge in the number of specialized ATMs. Their number is fast-growing and there are dozens of physical locations scattered across many countries.
Obviously, the vast majority of those who use it to purchase things or pay for services are Internet users. The very nature of Bitcoin makes it suitable for online transactions, especially those that require a great deal of privacy. As can be seen here, the online casino industry is thriving off Bitcoin and top operators have added it among the available payment methods.
A Familiar Face in a Position of Power
Mick Mulvaney was recently confirmed as Budget Director in the wake of Donald Trump’s election as US president. Those who use Bitcoin for online transactions probably know that he is a big supporter of the crypto currency. There’s always the possibility of him changing his views, now that he is in a position of power. However, it’s refreshing to know that someone who knows how Bitcoin works and used to support it at every corner is now running things.
Only a couple of months ago, Mulvaney reaffirmed his confidence in the Blockchain technology and highlighted its potential to improve financial services. Those who are overly concerned about how regulations can affect it, should at least for a while put their worries to rest.
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