Covered at Reason 24/7: Bitcoin Now a Billion Dollar Market



The cryptocurrency bitcoin is becoming increasingly popular. All bitcoins now in circulation (there are about 10.9 million of them) are now worth more than a billion dollars. The debt crisis in Cyprus is being cited as one of the reasons that bitcoin is exploding in value as more Europeans seek ways to keep the government away from their money.

From Tech Crunch:

Hang around in the tech industry long enough and you or someone you know will be heard saying, "that's so crazy it just might work." Two years ago, if you'd have told me that an open-source, P2P currency would soon be a thriving, billion-dollar market, I would've told you that you were on a lonely bus headed to CrazyTown, U.S.A. But today, Bitcoin officially became a crazy idea that's actually working.

Follow this story and more at Reason 24/7.

If you have a story that would be of interest to Reason's readers please let us know by emailing the 24/7 crew at 24_7@reason.com, or tweet us stories at @reason247.