With the Bitcoin through the debt crisis – Increasing Euro rate for Bitcoins
Spain and Greece are two countries that play an important and also dramatic role in the current debt crisis. So many people in the troubled nations are trying to get their savings to safety, which is an ongoing subject in more and more media reports. Some investors opt for the Bitcoin as an outmost visionary solution. Since the introduction of the Bitcoin in 2009 more and more users are enthusiastic about the features of this means of payment. It is still regarded as unforgeable, it is organized locally and it is freely available.
Investors take refuge in the Bitcoin
The Bitcoin is becoming more interesting for investors who fear for their money. More and larger amounts of money will be pumped into ailing economic systems and national economies; therefore people are looking for alternatives. The Bitcoin is currently benefiting in particular from the flight of capital, although it is a purely digital cash. The Euro rate for Bitcoins has increased since April of this year from about 4 Euro to more than 5 Euro. In addition, the traded volume of Bitcoins to the Euro rate compared to the previous month has increased by more than 30 percent.
Given the current market trend and the ongoing debt crisis, it is the perfect time for everybody who has not looked rather closely at the Bitcoins yet to take now a closer look to this subject. For the Bitcoin is due to its features not only for Spaniards and Greeks of interest. No central bank has an influence on Bitcoins that are now being traded around the world. There is also no nation behind the Bitcoin. And thus the use of Bitcoins for politically motivated purposes is also not possible, especially since they can not be increased on the instructions of a superior authority. The money supply growth has its limits concerning the total amount as well as the growth. A maximum of 21 million Bitcoins may be in circulation. Moreover, the difficulty of Bitcoin mining increases with the number of the circulating amount of Bitcoins. This leads to an effective protection against inflation, which is more and more convincing. Therefore, further price increases are possible.