Bitcoin is triumphantly breaking new ground through its first days in the month of November 2015. With its price value testing new grounds in the $USD 390 range, many people are growing excited. Not only is the current price exceeding new levels, but also venture capital investments injected into Bitcoin infrastructure has been reported to be 1 billion worldwide so far for the near end of 2015.
The community is giving thanks early before turkey day even begins. Last week, The Economist released a crypto-friendly article called “The Trust Machine: The technology behind bitcoin could transform how the economy works”. The publication also featured a unique picture of a Bitcoin chained to the world operating its many gears. It also said that it was unfair to look at Bitcoin’s “dark” reputation as the currency has remained a stable store of value for a solid year. The article seemed to be a welcoming present for the currency which also turned seven years old.
November’s first week begins with the U.S. Marshals Service auctioning off the last of the federally seized Bitcoin’s held from the Silk Road investigation. Now people think this may liquidate the price a tad but some feel adding 44 thousand Bitcoin’s back into circulation will cause for more volume within trading markets. At current market value, the blocks of auctioned Bitcoin’s sold will be worth over USD 16 million for the last of the seized coin held by government officials.
October wasn’t really a scary month for Bitcoin as positive news swept through its 31 days before Halloween. In fact, the European Court of Justice (ECJ) ruled digital currency transactions exempt from Value Added Tax (VAT) during the autumn month. This means that exchanging the digital currency is absolved from consumption taxes and can be held in the same regards as physical coins and banknotes. EU citizens and exchanges celebrated the ruling by the ECJ as the price of Bitcoin started its steady climb.
This November also starts with our own Bitcoin.com All-Star AMA event over at the newly created forums. The event kicked off with core developer Gavin Andresen and Circle Financial’s Jeremy Allaire. Over 40 of the cryptocurrency community’s hottest innovators and industry executives will be seizing the moment to discuss various crypto-subjects through our portal. The threads are being held daily, and people are still encouraged to sign up and ask questions.
With Bitcoin’s market cap surpassing five Billion USD, the digital currency community has lot to be thankful for. The price is surging through its highest levels of 2015 and doesn’t seem to be slowing up with transactions performing at record volumes. Chinese trading volume has escalated at exponential levels, and vast increases are seen across all three of the top exchanges in the region with Huobi taking the reigns. Merchant use with the virtual money is growing internationally, as reported by Bitpay; growth is increasing the U.S. and Europe but vastly in Latin America and the Asia Pacific regions as well.
With strong advances happening in merchant acceptance, ATM’s are also sprouting everywhere. CoinATM radar is showing that the number of Bitcoin ATMs is also topping new record levels. ATMs are appearing on a wide scale globally and are increasing adoption by making the cryptocurrency accessible everywhere. The digital currency is riding a new wave of speculation, demand, investments, and downright positive energy. The Bitcoin shuttle isn’t moon-bound just yet, but we are boarding more passengers every day.
What do you think of the current state of Bitcoin? Let us know in the comments below.
Images courtesy of Bitpay, CoinATMradar, The Economist, and Redmemes