Published On: Sun, Feb 26th, 2017

Bitcoin Demand Rises as U.S. Corporations are Stocking Up

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Bitcoin has attracted a great deal of interest over the last couple of years, and mainstream investing has skyrocketed with the ever-growing Bitcoin price. Now, a new market sector is starting to emerge as American corporations are stocking up on digital currency to combat cybercrime.
Corporations Fuel Bitcoin Demand as Ransomware Spreads
Hackers with an eye towards gaining valuable Bitcoins are hitting corporations more and more with dreaded ransomware, and this problem seems to be getting worse and worse. How to handle this growing epidemic is also a matter of some controversy. It seems to put companies in a no win situation.
“The official FBI policy is that you shouldn’t pay the ransom,” said Leo Taddeo, chief security officer for Crypt-zone to Newsfactor. Taddeo ran the cyber division of the FBI’s New York City office.
It’s an option to pay the ransom to get back up and running. Sometimes it’s the only option. But it has downsides. Paying ransom just invites the next attack.

A vicious cycle has begun. The more companies pay out in Bitcoin, the more attacks become likely. The more valuable Bitcoins become, the more attacks become …

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