The World is becoming in Bitcion’s favour – Bitcoin news update…

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Bitcoin Entering Politics? Texas Senate Candidate to Accept Bitcoin donations

Bitcoin’s popularity continues to grow. While relations with the currency and various governments have bounced between vague and tumultuous, one Texas Senate candidate, Mr. Steve Stockman, announced that he would accept donations in Bitcoins. This might not seem to controversial to some, after all money is money right? Still the move has raised some eyebrows given that Bitcoin is a politically contention issue in the United States. Texas is known for its libertarian oriented politicians, however, so it should come as no surprise that the Lone Star state produced the first Bitcoin candidate.

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Wells Fargo Puts Together “Bigwig” Meeting to Discuss Bitcoin

The massive international bank Wells Fargo has called together leading banking executives, government officials, and currency executives to discuss “rules of engagement” in regards to Bitcoin. While Bitcoin community members might be suspicious of the move, apparently it stems from efforts by the bank to figure out ways to service Bitcoin customers. Wells Fargo is reportedly interested in the currency, but unsure of how to approach and and how it is is or should be regulated. Support from one of the United States largest financial institutions could go a long way in building up credibility for Bitcoin.

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Silicon Valley VC: Bitcoin Will be Worth $100,000

A Silicon Valley Venture Capitalist by the name of Chris Dixon has come on record stating that Bitcoins could one day be valued at as much as $100K. Of course, just because Mr. Dixon says so, doesn’t make it , but with more and more mainstream financial and business experts warming to Bitcoin, one couldn’t blame members of the Bitcoin community for feeling optimistic. Mr. Dixon cites the limited supply of Bitcoin in combination with ever growing demand as the reason the currency could reach such heights.

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PayPal President Supports Bitcoin

In the world of online payment systems, few names carry as much weight as PayPal. And this past week, Bitcoin picked up a huge endorsement when PayPal President David Marcus stated that he and his company “believe” in Bitcoin. This comes after a minor controversy last week when PayPal’s support team apparently told a user that it was against company policy to purchase anything Bitcoin related, including Bitcoin itself and mining equipment, with PayPal.

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Sacramento Kings to Accept Bitcoin

Want to catch a basketball game? Now you can use your Bitcoins to buy tickets through the Bitcoin processors BitPay. You will also be able to buy gifts and other items from the team store. The system will be fully functional by March 1st. This makes the Sacramento Kings the first professional franchise to accept Bitcoin. While it might seem like a minor development, it could also point to building momentum for the virtual currency. This is especially true in light of all of the other major companies warming to Bitcoin.

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Brian Booker

An international financial analyst and writer. He has consulted for the Malaysian government, various MNC's, and other organisations. He focuses on currencies, commodities, and emerging South East Asian markets.

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