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These People Can Decide The Future Of Your Bitcoins

It is no secret now that Bitcoin had a huge surge in price last week. This news has split the experts, with some investors being left really excited about the news, and others feeling incredibly nervous and unsure what this means for the future of Bitcoins. According to a report in Bloomberg Businessweek, about 1,000 people own about forty percent of the world’s total Bitcoin, which equals out to approximately $105.6million per person. This obviously does not represent the average investor, but what is worrying is that these 1,000 people can significantly influence and decide the future of the average...

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Dollar’s troubled friendship with blockchain

Some may remember that earlier this year, Iran signed an agreement with Russia under which it has broken free from the petrodollar, whereby it would “sell” or more precisely barter crude oil to Russia in exchange for products. The headline is indeed worth paying attention to, after all commodity transactions are settled using dollars and certain countries have long voiced their opinion that the reliance on dollars needs to be reduced. However, could this move set the precedence for others to follow and therefore set the motion to demote the dollar from its long-held throne? One of the main issues...

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What's behind the rise of Bitcoin?

2017 will be remembered by some as the year of Bitcoin. A spectacular last 12 months has seen the cryptocurrency increase in value twentyfold. In January, Bitcoin was worth just $1,000. Last week, the price of Bitcoin rose above $20,000. Now worth $300 billion, the Bitcoin market is now double the value of all Goldman Sachs' shares combined. One of the key factors behind Bitcoin’s phenomenal rise has been large institutional investors, such as hedge funds and big Wall Street firms joining the Bitcoin party. The options exchange is to begin trading Bitcoin futures contracts on Sunday, while the Chicago...

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Stocks to buy that could make gains off the Bitcoin boom

The managing partner of Funstradt and bitcoin bull Thomas Lee has identified stocks that could gain on the back of Bitcoin price rises, transaction activity and Bitcoin mining. According to Lee, holding an equal-weighted basket of these stocks will offer a 135% return. Although some of these stocks are small companies and thinly traded, they could prove to be wise and worthwhile investments as Bitcoin continues to grow: MGT Capital Investments (MGTI) - a Bitcoin miner which is owned by McAfee, operating out of Washington. MGTI is leasing farmers' utility rights in order to get power at wholesale cost. Hive...

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Putin Strongarms Trump on Crypto Currency

This move could enable Russia to give up using the US dollar to trade crude oil, using crypto currencies instead. The US sanctions have damaged Russia’s oil trade in a devastating fashion, as oil is usually traded in the US dollar format.   This is where cryptocurrencies such as the bitcoin could lessen the dependency on the dollar, which will allow countries such as Russia to grow despite these sanctions. In a research note seen by CNBC, he said: “The advent of cryptocurrencies represents a fresh catalyst for commodity-producing countries wishing to abandon the dollar as a means of payment...

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