Experts: Sharply rise in price of Bitcoin is expected

Baku. 24 December. REPORT.AZ/ By the summer of 2016 Bitcoin exchange rate may rise 8 times and reach 3500 dollars. Report informs, CEO of China-Bitcoin Exchange (BTCC) Bobby Lee said in an interview with Reuters. Notably, Bitcoin is now priced at $440.

"Today, the cost of Bitcoin accessing the world is a dollar per capita. Considering that, we are talking about innovation as a decentralized digital assets, I would say that we underestimate it," said the CEO.

Co-founder of Bitcoun hedge fund 'Global Advisors', Daniel Masters believes that in 2016 the course of cryptocurrency can exceed 1100 dollars, and by 2017 it will rise to 4400 dollars. Among the factors that contribute to the strengthening of Bitcoins, is an increase in demand in China due to the weakening of the yuan and the loyalty of some of the major companies and government agencies to use virtual money in the calculations.

Notably in October, Russia's Finance Ministry proposed to punish the storage and release of Bitcoin with four years term in prison. In the same month, the Court dismissed the tax exchange of Bitcoins.

Bitcoin is the most popular in the world cryptocurrency. This digital money, issuing and counting of which is based on encryption. The emission occurs through Bitcoin mining. Miners using their computing capacities of computers are added to the network and new blocks of data are recorded in the transaction. As a reward for the expansion of the database get Bitcoin miners. This database is called blockchain. The number of Bitcoins is limited - they can not be more than 21 million units.

Course Bitcoin extremely volatile and is affected by many factors. For example, in 2013 it rose sharply after cryptocurrency legally recognized medium of exchange in the United States. The course reached its maximum value in 1242 dollars. Five years ago, a Bitcoin worth about half a cent.

Notably, Azerbaijan recognized Bitcoin as a virtual currency. Employee of the Financial Supervision Commission of Poland Adam Janiszewski spoke about the importance of application Bitcoin in the country on June 24 organized at the seminar held in the administrative building of the Ministry of Taxes. Ministry of Taxes has asked the Expert Committee Technical Assistance and Information Exchange (TAIEX) of the European Commission on promoting the non-cash payments.