Bitcoin is one of those things that many people don’t understand, but they wish they had invested in it. The value of the virtual currency is rocketing upwards at the moment, with the value of a single Bitcoin surpassing AU$5100 over the weekend. This is a record value for the currency, but it didn’t stop there. At the beginning of this week, Bitcoin was valued at around $5500.
Bitcoin Casino Players
The rise in value is fantastic news for any Aussies who bought into the currencies in the early days, especially those who did so to make use of at top Australian online casinos. In fact, if any of our readers invested in Bitcoins to enjoy online gambling when casinos first started accepting the currency, you may want to go and check your account!
If Aussie gamblers had bought around AU$120 worth of Bitcoin in 2012, it would have bought them around 20 BC. However, if they still have those Bitcoins, it would now be worth over AU$100 000! 2012 was the first time the value of a single Bitcoin passed US$5, but it would continue to grow. In this year alone, the value has increased 780% since January.
Bitcoin Future – is this the Golden Age?
People wonder why Bitcoin is doing so well at the moment and if this trend will continue. Part of the reason for the spectacular increase in value is the current tensions between North Korea and the United States. Investors see Bitcoin as something that tends to hold its value in times of crisis. Consequently, many investors in Asia have turned to the cryptocurrency.
But, will the value last? That is the question on everyone’s mind. The truth is, no one can say for sure. Many people think the value of Bitcoin will continue to grow and shows no signs of slowing. Others warn that Bitcoin has shown itself to be vulnerable to massive crashes in value. The good news is that, in the past, the value has always recovered after a crash.