Companies Stockpiling Bitcoin in anticipation of ransomware attacks

[Slark]

Another example of mass hysteria caused by global ransomware threat.
Instead of invest in good backup solutions companies are now stockpiling Bitcoin in anticipation of ransomware attacks.
Could this be one of the reasons behind current surprisingly high Bitcoin's price?

Read more: http://www.nbcnews.com/storyline/hacking-of-america/companies-stockpiling-bitcoin-anticipation-ransomware-attacks-n761316

[1715140714]

1715140714

[1715140714]

1715140714

[richardsNY]

Nah. Everything you read regarding the ransom attacks where Bitcoin is the main subject, should be taken with a truckload of salt. The media (especially the mainstream ones) tries to relate Bitcoin's recent growth to these ransom attacks, just to make people believe that current growth isn't because of legitimate demand coming from all over the world. It's a nonsense article all the way. #AntiBitcoinCampaign

[JimboToronto]

Could this be one of the reasons behind current surprisingly high Bitcoin's price?

Surprisingly high price? I think we're right on track.

As for companies stockpiling coins for ransomware, I don't think it's big enough to affect market prices.

WannaCry only asks for $300 worth of Bitcoin. That's just a sixth of a coin. Even if 1000 companies stockpiled enough for 10 attacks it wouldn't affect the market that much.

[pooya87]

that is the most idiotic news segment i have ever read!
how much do these "companies" are trying to save up on?! it is a small possibility they get attacked by ransomeware then it will ask for $300, now you just go ahead and buy $300 worth of bitcoin and pay the damn thing at the time.
buying beforehand like buying at $1700 and paying while it is $1900 will save you 0.018BTC which is $34 and a company that is saving up on $34 is not a company really they should close down.

[Karpeles]

Look for the source of whatever study they quote as "source"

It is not uncommon that the study will say the opposite, and they trust that everyone will be too lazy to check the source and will accept the lie.

In fact they didn't provided a link to the study neither a proper citation, making things harder.

[AjithBtc]

That might be a reason in one form, because the ransom demand is in terms of bitcoin. As the growth of bitcoin is quite big, now several threats gets generated in different ways. One among that is the relating of bitcoin to the ransomware attack. The price move seems to be the normal happening as recent days more new comers could have given a try to bitcoin.