Bitcoin Market Gets Stamp of Approval from Several Big-Name Players

    Text size
Author Image for Michael A. Robinson
More people and businesses are getting behind the Bitcoin market every day, and that's taking us closer - inch by inch - to a point where the use of Bitcoin is commonplace.

But such positive Bitcoin news rarely gets the attention it should. It never ceases to amaze me just how poor a job the mainstream media does at covering key developments that prove Bitcoin is an unstoppable force.

Of course, the minute there's any downward pressure on the Bitcoin price, they are all over that news.

Take the case of Bloomberg LP, the market-oriented data management and media firm. In particular, the company is known for its sophisticated trading terminals used by professional investors the world over.

bitcoin market

Turns out, Bloomberg recently decided to provide its 320,000 subscribers with real-time Bitcoin market data integrated right into its professional service platform.

That means Bitcoin investors and Bitcoin traders will be able to check price changes, market movements, and news stories as well as track social media feeds from more than 100,000 Bitcoin commentators.

I believe this is an important vote of support for Bitcoin as it moves from the domain of techies to global mainstream acceptance.

With Wall Street getting involved, we should soon begin to see institutional support for the Bitcoin market that will bolster its status as both a virtual currency and a sophisticated digital payments system.

And I have even more good Bitcoin news to share with you...

Bitcoin Market Seen as Ray of Hope for World's Poor

One of the great pioneering technology leaders of all time has come out in favor of Bitcoin.

Besides co-founding Microsoft Corp. (Nasdaq: MSFT), Bill Gates is also known as a philanthropist who is working to improve the lives of impoverished people in developing nations.

In a recent "Ask Me Anything" interview with the popular online service Reddit, Gates said he saw potential for Bitcoin in his philanthropic work.

"Digital money has low transaction costs, which is great for the poor because they need to do financial transactions with small amounts of money," Gates said. "Over the next five years I think digital money will catch on in India and parts of Africa and help the poorest a lot."

Meantime, the digital currency's momentum also is gaining ground elsewhere as well...

In fact, a recent article in the online trade journal CoinDesk estimated that a search using LinkedIn Corp. (NYSE: LNKD) shows there are already an estimated 7,560 jobs in the Bitcoin market.

To me, that's an astounding number. Bear in mind that few people had heard of Bitcoin before last year, and it's already become a cottage industry.

There's even a job-listing website devoted to the growing use of this digital currency. Not only that, but has listed more than 1,000 jobs that pay in Bitcoin since the site launched in 2013.

And get this: Nearly 30% of the jobs posted were for full-time positions. This is yet another significant sign of Bitcoin's acceptance - it means people trust the currency enough to be paid in it.

As for the Bitcoin price, it seems to have settled down lately. Bitcoin continues to trade in a narrow band. Over the past two weeks, the price has remained between $420 and $465. So it's once again found key support that has greatly reduced the volatility we saw earlier this year.

And less volatility will also give more people the confidence to start participating in the Bitcoin market.

Editor's Note: Thanks to this company's innovative moves, Tesla (Nasdaq: TSLA) stock has gained a whopping 238% in the past year - and the company is not slowing down.

Now Tesla is engaged in a highly sensitive venture called BlueStar that could disrupt $737 billion of the U.S. economy and impact 98% of the population.

Few details concerning BlueStar have made their way into the press. However, a recent investigation uncovered some shocking revelations.

Click here to continue reading this must-see story...

About the Author

Michael A. Robinson is one of the top financial analysts working today. His book "Overdrawn: The Bailout of American Savings" was a prescient look at the anatomy of the nation's S&L crisis, long before the word "bailout" became part of our daily lexicon. He's a Pulitzer Prize-nominated writer and reporter, lauded by the Columbia Journalism Review for his aggressive style. His 30-year track record as a leading tech analyst has garnered him rave reviews, too. Today he is the editor of the monthly tech investing newsletter Nova-X Report as well as Radical Technology Profits, where he covers truly radical technologies – ones that have the power to sweep across the globe and change the very fabric of our lives – and profit opportunities they give rise to. He also explores "what's next" in the tech investing world at Strategic Tech Investor.

... Read full bio