It has been a good week for the crypto currency investors this week. The price of Bitcoin has double to record a high of 8,000 dollars this week and crypto currency exchange Bitfinex is making a comeback after releasing a statement this week confirming that it had managed to raise fresh investments of over one billion dollars. At the Luxembourg Bitstamp Exchange, the price of Bitcoin hit a record high of 7, 878 dollars and this is double what the price was at the beginning of the year. At the beginning of this year, Bitcoin price was under 4,000 dollars. In the last 30 days alone, Bitcoin has seen its value rise by a staggering 55 percent. In less than two days last week, the value of Bitcoin rose by over 1,000 dollars. A company known as HBUS conducted a survey on how people are adopting Bitcoin and other crypto currencies and found out that people holding crypto currencies alone in the United States had double in under one year. HBUS is related to Huobi exchange that is located in Singapore. The survey had over 1,000 participants and was carried out in the months of April and March. Out of the people interviewed, 20 percent revealed that they had invested in crypto currencies. The survey also revealed that men are more likely to invest in the business as compared to other genders.
The research also revealed that nearly 75 percent of the people who participated in the research were aware of the existence of crypto currency. They also revealed that greatest assets associated with the business were security, privacy and technology. Despite the volatility that is associated with the trade, Frank Fu who is the chief executive officer of HBUS revealed that adoption by businesses and governments is one of the reasons behind the rapid pace. Many people who have invested in crypto currency revealed that they got to know about the trade by the word of mouth. In fact, 60 percent of the participants revealed that they were informed by friends about the potential of the field. There are also some reasons that hinder people from investing in crypto currency. Some of these reasons include security, privacy as well as lack of understanding about how the trade functions. Bitfinex chief executive officer revealed that the one billion dolars that they managed to raise was during a period of 11 days. This was further confirmed by NYC and CoinDesk conference 2019.
