The Value of Bitcoins Goes Over $200 Fueled by BTCChina

The Value of Bitcoins Goes Over $200 Fueled by BTCChina

Just one single bitcoin is worth $200 and this is because of the Bitcoin Exchange BTCChina (BTCChina.com) and its growing popularity.

The last past few months BTCChina has been growing at a rapid pace, accounting for just under 33 % of the trades. This places them ahead of MT. Gox  by at least 23% and it also jumps ahead of the Slovenia based BitStamp by 25% percent.

Bobby Lee, the CEO of BTCChina said that there has been a large increase in Bitcoin Trading this year. During April, at one point the bitcoins were trading at around the equivalent of $208. Lee also states the Chinese are taking to Bitcoin, accepting it as a quality alternative currency. This acceptance could be fueled by new companies accepting Bitcoin, such as the Internet Giant Baidu

BTCChina is not a known name even within the community of Bitcoin and it came out of nowhere says Dan Held, the co-Founder of Zeroblock. However, this does help to confirm that China is interested in Bitcoins.

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