Bitcoin, as we all know by now, is doing rather well for itself, and that seems to show no signs of stopping as investment from two venture capital firms blew the currency to its highest value ever.
Having invested $5 million in BTC China, bitcoin value climbed to a new high of $608 per bitcoin this afternoon (Nov. 18th).
Because of this gargantuan investment, along with general demand for the currency within the nation, China now makes up for more than 50 per cent of the worldâ€™s daily bitcoin turnover. Itâ€™s home to a huge amount of bitcoin nodes, which serve as hubs for the tracking and exchange of the currency.
The strong interest and investment also means that it could well be made easier to access and spend in China when the next expected financial reforms roll out.
Of course, there are other advantages to Chinaâ€™s interest in bitcoin â€“ largely its potential to slowly chip away at the value of the USD.
This isnâ€™t too surprising to believe either when China is also at the centre of a rather tricky issue surrounding $4.1 million worth of bitcoins disappearing.
The Hacker News]