Bitcoin Soaring as Digital Currency Gains in Popularity With Online Casinos

Written by:
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Published on:
Dec/27/2016

Don’t look now but the anonymous digital currency Bitcoin is trading at its best level in more than three years, now at $929.

The cybercurrency once synonymous with shady industries like the illicit drug market has now gone mainstream.  It is among the most popular payment methods now utilized by the online gambling sector.

Bitcoin was trading at $432 to start the year.  Political events around the world – primarily Brexit in the UK and the election of Donald Trump in the US – are said to have contributed to Bitcoin’s increased popularity.

Bitcoin briefly traded at a peak above the $1000 mark in 2013.  The online gambling industry had shunned the anonymous digital currency at the time due to its perceived close ties to the so-called “Dark Web”.  I-Gaming companies also expressed security fears.

- Aaron Goldstein, Gambling911.com

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