Bitcoin heads towards $11000 with institutional interest

[futureofeth]

The day after tipping the monumental $10,000 milestone the rise and rise of the cryptocurrency has so far showed no signs of slowing the today's price representing (at the time of writing) a 8.34 percent rise worth a staggering $832.59 (£621.52) price rise for users and coin hoarders.Alessio Bruni, General Manager Europe of Bitcoin wallet provider Luno told Express.co.uk that this kind of exponential growth is often driven by network effects. In short, according to Mr Bruni: "The more people who have access to something (like email, a Facebook account or Bitcoin), the more valuable it becomes.Coinbase, the largest Bitcoin exchange in the United States, added around 100,000 accounts at the end of last week with the new influx of investor interest coinciding with the Thanksgiving holiday.Similarly Luno are seeing a customer surge having just announced the on-boarding of their millionth cryptocurrency wallet holder.Mr Bruni adds: "The other reason (for the rise) is that we’re seeing more signs of institutional money entering the market, especially in the US and Europe.

"There is an increased understanding of what Bitcoin is, what it can be used for - and what it can’t - and along with the market cap rising, funds and institutional investors are allocating a small percentage of their overall portfolio in digital currencies like Bitcoin.".

[Geoff999]

Interesting read,

I am excited to see what the next year or two brings for the cryptocurrency space,

I've diversified out among a number of coins, hopefully they continue to increase in Cap size at a steady rate.

[damrianto]

whether it is true or not. ? .what's that already determined? but if it's an institutional interest. it is also very profitable for the holders of the krypto wallet. because this surge in price increases can add investors to invest in bitcoins.