Last updated on August 22nd, 2016 at 09:49 pm
Here are the highlights from the last week in Bitcoin:
Chinese Investors Push Bitcoin to New Heights
Bitcoin continues to gain steam around the world. Now, investors in China are pushing Bitcoin prices to new heights. Bitcoin has surged past the four hundred dollar mark, largely due to increased buying in the Middle Kingdom. China’s main exchange, BTC China, actually surpassed Mt. Gox in terms of trading volume while many government run papers and TV shows have been endorsing the online currency.
Bitcoin Suffers Another Million Dollar Heist
Just over a million dollars worth of Bitcoins were stolen from inputs.io. The founder of the site, who goes only by the name “TradeFortress”, claims that hackers stole the coins, though some are speculating that it could have been an inside job. With the frequency of such heists, many experts are urging people to store their coins offline.
First Latin America Bitcoin Conference Announced
The first ever Latin America Bitcoin conference will be held this coming December, on the 7th and 8th. The conference is being sponsored by Fundacion Bitcoin Argentina and will host speakers and guests from across the region. Bitcoin has been especially popular in Argentina due to the inflating Argentinian Peso.
Bitcoin Exchange to Be Opened in Singapore
The city-state of Singapore is already world-renowned for its financial sector. Now, a Singapore based company, itBit, is looking to establish the city-state as a Bitcoin trading hub. The company plans to launch a global trading exchange that will allow trading in US dollars, SG dollars, and Euros. With Asian investors increasingly looking at Bitcoin as a way to fight inflation, the exchange may stoke stronger local demand.
A Bitcoin Bubble? Opinions Mixed
Some are claiming that Bitcoin is building into another bubble. Others are feverishly defending it. So far, however, investors have been giving the currency a vote of confidence and have been shrugging off a recent string of bad news, including the previously mentioned heist. With more stores, restaurants, and other companies accepting Bitcoin, the currency is likely here to stay, although prices themselves may be inflated.