Published On: Sun, Feb 19th, 2017

Bitcoin TX Volume Up 55% as Grexit Looms Again

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Bitcoin’s transaction volume for 2017 has increased 55% as optimism and dissatisfaction with fiat alternatives fuel investment and trading.
Bitcoin’s Sustainable Growth
Figures republished by ARK Invest’s product lead Chris Burniske show impressive yet sustained growth in volume compared to the 2015-16 jump of 118%.
Just updated: #bitcoin transactional volume in 2017 has been $260M per day, $180K per minute. Up 55% from 2016, which was up 118% from 2015. pic.twitter.com/a8Z62iNzr7
— Chris Burniske (@ARKblockchain) February 16, 2017

“…This is transactional volume using (bitcoin) as a means of exchange, very different from trading volume within exchanges,” he noted.
Aside from the repercussions of China’s regulatory shake-ups, there is now a growing number of countries worldwide where deep-seated problems with fiat are driving uptake of Bitcoin as a safe haven investment or transaction method.
Venezuela, India, and Mexico have all made the headlines in recent months, and now a fresh Greek debt crisis is leading commentators to suggest that country’s disgruntled citizens could soon join them in the rush for Bitcoin.
Demand Outweighs Supply
At the same time, Burniske notes the consequences of Bitcoin’s annual rate of supply inflation dropping to 4% …

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