Bitcoin value set to surge according to experts

risebitcoinprice11 July 2014 / The Drum – Online currency Bitcoin has been touted to surge in value from $615 a share to $1,200, a 226 per cent increase on current estimates – according to a venture capitalist.

Bitcoins, which are earned by volunteering computing power to process the firm’s data, can be used to purchase increasingly more goods and services – including even the Drum magazine.

This news comes after the virtual currency’s value recently took a knock causing it to steadily decline in value, from $1,200 to the current $615. This is attributed to Chinese authorities toughened their stance against the company in May and the collapse of online exchange MtGox.

Speaking at the Coin Summit in London yesterday, Geoff Lewis, partner at the Founders fund, estimates the value of the Bitcoin will skyrocket, “I’m really bullish when there is low volatility” but stated that there will definitely be a rise”…… Read more

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