[2016-12-09] Moneycontrol: Zebpay looks to make hay while bitcoin shines

Zebpay looks to make hay while bitcoin shines

http://www.moneycontrol.com/news/business/zebpay-looks-to-make-hay-while-bitcoin-shines_8086841.html

Uncertain times sure tend to bring cheer to the digital currency bitcoin. Be it Brexit, the Greek referendum of 2015, or the US Presidential race immediately followed by the surprise demonetisation of Rs 500 and Rs 1,000 denomination notes in India; in all instances the price of bitcoin has appreciated considerably.

The cryptocurrency, also termed as ‘virtual gold’, is steadily becoming a safe haven for investment and a medium to hedge against future currency volatility.

On Zebpay, India’s largest bitcoin trading platform, the trading price spiked to a high of Rs 69,621 (approx USD 1,000) per BTC in the last week of November, whereas the global market average stood at around USD 735 per BTC.