As an Englishman, I have a natural tendency to steer clear of hyperbole, but, looking at the evidence over the last few weeks, it could just be that this past month or so has marked a sea change in the story of the little digital currency that could. We may well look back on this time at some point as the time that changed everything for bitcoin.
Many more people than would usually be the case will be aware of these changes as media coverage of bitcoin has been extensive in the last week, and, thankfully the more reasoned tone that I pointed out last week in these pages has continued. What has prompted that interest is the dramatic surge in the price of bitcoin that we have seen. After breaking the $300 barrier on Coindesk’s Bitcoin Price Index (BPI) on Wednesday of last week BTC/USD continued to climb, powering through $400 by Tuesday of this.
Rather than issuing dire warnings about a bubble that is about to pop messily as would have been the case in the past, however, most of the coverage has been, like this USA today piece, about