Bitcoin Bubble Debate Escalates as Traditionalists Clash with Bullish Believers

Bitcoin Bubble Debate Escalates as Traditionalists Clash with Bullish Believers

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A fresh growth spurt for Bitcoin has seen traditional investors once again surface to comment that the digital currency bubble is on the verge of bursting. But those involved are bullish and optimistic that the real growth has not even begun yet. It is not only the growth of Bitcoin, which has been unprecedented this year alone but the birth of altcoins and the ease in which money is seemingly created from nothing through ICOs. Bitcoin’s fork, and the creating of Bitcoin Cash is another ‘bubble-warning,’ apparently. A year of growth Bitcoin, and cryptocurrencies in general, have staggered many with the way in which they have grown in 2017 alone. A new high of $3,500 was achieved earlier this month when Bitcoin succeeded beyond its Aug. 1 ‘Independance day.’ This growth has also seen a host of other altcoins and their value dragged up with the original cryptocurrency. These altcoins have come from the creation of highly popular ICOs, which have seen record falls almost weekly as one outdoes another. At the start of 2017, the total value – or market cap – of all cryptocurrencies in existence was about $17.5 bln, with Bitcoin making up almost 90 percent of that, according to CoinMarketCap. It is now around …

Circle Internet Financial Raises $50 Million With Goldman Sachs Support

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Bitcoin financial services startup Circle Internet Financial has closed a $50m funding round. The Boston-based company drew support from  and China-based IDG Capital Partners, as well as all of Circle’s pool of existing investors, including Breyer Capital, General Catalyst Partners, and Accel Partners. Tom Jessop, managing director at Goldman Sachs’ Principal Strategic Investments Group, said the bank recognizes the need to invest in companies that “have the promise to transform global markets through technical innovation.” Jessop added: “We think that Circle’s product vision and exceptional management team present a compelling opportunity in the digital payments space.” Quan Zhou, managing director of IDG Capital Partners and Circle board member, said that China in particular, will be a major focus for the company as it looks to further internationalize its services. “We are very excited about our investment and look forward to helping launch the company in the Chinese market where consumer adoption of innovative digital payment products is growing at a tremendous rate,” he said. Circle has also announced the launch of new account features that enable customers to hold, send and receive US dollars. Those funds, according to the company, will be insured by the Federal Deposit Insurance Corporation. The news follows reports from earlier this week that Circle was …