[2015-07-24] BS: The Greek crisis and bitcoin

[polynesia]

The Greek crisis and bitcoin

http://www.business-standard.com/article/opinion/devangshu-datta-the-greek-crisis-and-bitcoin-115072401457_1.html

One of the more entertaining outcomes of the Greek crisis was a revival of interest in virtual currencies, especially the bitcoin. When capital controls were imposed, the Greeks swapped euros for bitcoin, and then swapped bitcoins for US dollar.

The "normal" volume was around 10,000-12,000 bitcoin transactions per day. It rose to over 120,000 transactions per day in June-July. The price rose from $220 per bitcoin on June 1, to $285 on July 24. That is, 29 per cent gain against the dollar in seven weeks. In euros, bitcoin rose from euro 213 on June 1, to euro 260 (July 24), a rise of 22 per cent.