Bitcoin is trading today above Php400,000/coin on coins.ph
I awoke to notifications of another 5% jump in the price of bitcoin on the international market. I checked coins.ph and saw a buy price above Php400,000! Just a few days ago, I was able to covert some pesos at a rate just above Php300,000.00.
I share in the sentiment that we will end the year somewhere around the Php500,000.00. My simple understanding of Bitcoin is that it is at a point where it is being "born" and its true purpose and value is emerging. Around the world, it is being used as a safe haven for value/assets. The initial plan to have Bitcoin focus on transactions seems to have changed. The people behind Bitcoin now want it to be like gold.
Current events illustrate this perfectly. Just a yesterday, I read about (and heard on the news) political instability in Zimbabwe. A decades long dictator, Mr. Mugabe, was placed under house arrest. Notably, that Bicoin's price in Zimbabwe is soaring. Due to difficulty in forex, Bitcoin is a viable option to stash the cash - much like gold is in times of crisis.
I share in the sentiment that we will end the year somewhere around the Php500,000.00. My simple understanding of Bitcoin is that it is at a point where it is being "born" and its true purpose and value is emerging. Around the world, it is being used as a safe haven for value/assets. The initial plan to have Bitcoin focus on transactions seems to have changed. The people behind Bitcoin now want it to be like gold.
Current events illustrate this perfectly. Just a yesterday, I read about (and heard on the news) political instability in Zimbabwe. A decades long dictator, Mr. Mugabe, was placed under house arrest. Notably, that Bicoin's price in Zimbabwe is soaring. Due to difficulty in forex, Bitcoin is a viable option to stash the cash - much like gold is in times of crisis.
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