Why Bitcoin Investors Should Take the Current Upsurge with a Grain of Salt and Convert Their Virtual Funds into Gold

Why Bitcoin Investors Should Take the Current Upsurge with a Grain of Salt and Convert Their Virtual Funds into Gold

The virtual currency Bitcoin is currently celebrating a suspicious comeback. On Wednesday, November 4, it surged 25% and has reached the $500 mark for the first time since summer 2014. Just two months ago, the currency has been valued at about $200. During the last three days, the currency has appreciated by 40%. In October, it has gone up almost 70%. Such a fast price increase is most likely not sustainable and indicates a bubble. Investors should watch out. China’s capital restrictions cause capital flight; European regulators made Bitcoin trade more attractive by imposing....


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Bitreserve Merges Bitcoin and Gold

The bitcoin-based financial services company Bitreserve is merging one of the newest innovations in currency with the world's oldest, TechCrunch reports. Through the institutional precious metals trading house Gold Bullion International, Bitreserve has created a new gold standard, linking its bitcoin currency exchange and payment services with gold. Now, using Bitreserve, customers can hold gold in their accounts and convert it to bitcoin to buy goods and services. Also read: Bitreserve is Open for Business. Bitreserve users fund their accounts in Bitcoin, which they can choose to convert....