What a difference a year makes.
At this time last year, bitcoin value was beginning a steady decline that would see it dip to $172 in early January – it’s lowest value since the good old days of late 2013, early 2014 when it reached nearly $1,200 per.
We’re not near that level again, but the digital currency has made a significant surge over the last 45 days and is currently hovering at its highest level in more than a year.
As bitcoin closed at $434 at the end of business Monday, we offer a few theories about the increase.
According to a recent story on Coindesk, 3.49 million in bitcoin was traded on Dec. 5, a single day record, smashing the previous record of 2.86 million 10 days earlier. Trading activity was pretty consistent thereafter, and bitcoin value has risen roughly $100 in the last 30 days.
Are Banks Coming Around?
About 18 months ago, banks shunned the mere concept of digital currency. Nowadays, it’s safe to say banks are curious at the very least. The evidence lies in more banks and financial institutions studying the benefits of the blockchain in an effort to become more cost and company efficient.
Have They Found Satoshi?
Last week, we blogged about the very possible unmasking of the founder of Bitcoin, Satoshi Nakamoto. According to a compelling piece in the online magazine Gizmodo, a series of emails have pointed to Australian businessman Dr. Craig Wright and the late David Klieman, a forensics researcher. When the story was released, bitcoin value jumped nearly $16 in a 15-minute period to well over $400, where it currently remains.
Offshore Processing Solutions for Bitcoin Collectors
Because of its partnerships with many offshore and international banks, Instabill can provide bitcoin merchants credit card processing solutions for their businesses. Instabill is a forward-thinking, full-service payment service provider: We go further than just helping your business start processing payments; we serve as consultants for the duration of the merchant account partnership.
For free advice, chat with a live merchant account expert at 800-318-2713 or by selecting the live chat option below.