The meteoric Bitcoin Price Rise captured headline in the Bitcoin and blockchain space this week. We certainly reported it. While it did not grab as many headlines as previous surges, mainstream publications also did take notice.
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Bitcoin Price Rise and News Round up Week 23
It seems the mainstream press is becoming accustomed to Bitcoin as a permanent part of the investment landscape. As such, a 15%+ move to the upside is not as exciting as it once was.
Nevertheless, the fact is the Bitcoin Price did achieve highs not seen in almost two years. And, Bitcoin bulls have been proven right, so far. Our own analysis shows the bull run should be expected to continue over the medium term.
Bitcoin 1-Month Price Chart in USD Terms. Courtesy of CoinDesk News.
Bitcoin Price Rise and Global News Headlines
It’s always a pleasure when Bitcoin meets politics. Enter Maria Le Pen, from France’s far right National Front party leader.
In a piece published this week Ms Le Pen compares Bitcoin, Virtual Currencies and the EU; naming each as some sort of plot by “The powerful business lobby” and “Wall Street Banks”. Apparently they are part of an agenda to pave the way for a cashless society.
Politicians can be uninformed. This is not a surprise. But Ms. Le Pen’s comments are just confusing.
Bitcoin is typically more none, for better or worse, as an anti-establishment tool. The idea that it was actually part of the establishment’s arsenal came as a surprise to many. Perhaps Ms. Le Pen is a little unclear on how Bitcoin actually operates.
Marine Le Pen veut interdire le #Bitcoin ! Allô, ça va pas la tête ?!
— Philippe Herlin (@philippeherlin) 26 May 2016
Meanwhile, in Ghana, we reported on an announcement by a leading tech. company their, claiming they had opened Africa’s first Bitcoin mine.
In the Phillipines the local Central Bank indicated its intention to increase controls over its banking system. This is further to a well publicised hack of the SWIFT system. This could have far reaching implications for local Bitcoin businesses and operators. Philippines is often cited as fertile ground for Bitcoin and blockchain opportunities, particularly in the remittance space.
Bitcoin and digital currency were on the agenda for Central Banks in both Russia and the US.
Bitcoin and Central Banks
Russia’s contradictory, confusing and sometimes negative stance on Bitcoin is well documented. Nevertheless, the Central Bank’s head of a recently created financial technology unit sees far reaching applications for its underlying technology, the block chain.
This is a more common position amongst main stream finance, particularly in 2016. They love the blockchain. But this Bitcoin thing, well, they’re less fond of it.
An event held in Washington D.C. this week saw the IMF, US Fed., World Bank, and key central bankers, internationally, gather to discuss, privately of course, their own work with blockchain technology, amongst other things.
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