[2016-06-21] Mint: Is Brexit fever handing Bitcoin its moment in the sun?

[polynesia]

Is Brexit fever handing Bitcoin its moment in the sun?

http://www.livemint.com/Money/6lHeMb9oCeGKisMuzbjxlL/Is-Brexit-fever-handing-Bitcoin-its-moment-in-the-sun.html

Bitcoin is still mainly a gimmick favoured by geeks who want to revolutionize the world and do away with central banks — or by people in China wishing to take money out of the country. But of late, its appreciation suggests more investors may be seeing the unit as a store of value, one of the requirements for economists to start calling it a real currency. While that’s interesting, it’s important to bear in mind that at the end of the day, Bitcoin is just a piece of code.

This month, as Brexit fears sent stock markets into a tail-spin, the digital currency has moved almost in lockstep with gold. It reached the highest in more than two years on 16 June, one day before the precious metal touched its most since January 2015. Now that polls are showing a reduced chance of the UK leaving the European Union, both gold and Bitcoin have dropped.

[Divinespark]

Brexit is just one of several topics clustering around the whole theme of existing fiat systems breaking down that will help fuel higher BTC adoption. China debt is another topic that will go away anytime soon.