Back in March 2013, Bitcoin reached an all-time trading high of more than £21. At that time, this was seen as a major development for the alternative currency which was launched in 2009, largely unnoticed outside the crypto-currency world. Since then, the situation has changed dramatically. What was seen as hype in March has now developed into a frenzy.
By the beginning of April, one Bitcoin was already worth £150. And since a US Senate committee hearing in November backed Bitcoin as a legitimate financial service, its value really took off: following a peak of £755 on 5 December, it is currently trading at around £550.
Why has Bitcoin some attractive so quickly? How exactly does Bitcoin work? And how do regulators see the currency? Here are some facts which describe what Bitcoin is - and what it’s not.
Published 13 December 2013 on entrepreneurcountry.com, read the full article here: http://www.entrepreneurcountry.com/united-kingdom/item/the-rise-of-bitcoin