Hundreds of Thousands of South Koreans Are Rushing To Invest To Cryptocurrencies
Recently and up to this time of writing, a huge amount of trading volume are coming from South Korea.
Hundreds of thousands of investors from South Korea have started investing into Bitcoin and other cryptocurrencies, which resulted into a sudden increase in demand lately.
Prices in Korean markets such as Bithumb has even surpassed $20,000 and is way higher than other markets in the world.
Also recently, The South Korean government and its financial regulators has decided to regulate the cryptocurrency market due to the exponential increase in demand.
Some analysts said that the regulation is necessary considering the size of the market and should be implemented as soon as possible.
The South Korean government plans to implement the regulation be the end of 2018.
Twins Cameron And Tyler Winklevoss Expects Bitcoin To Reach Trillions In Long Term
The Winklevoss twins, in a CNBC interview, has talked about Bitcoin's properties allowing it to operate as a premier store of value which is in orders of magnitude better than gold in aspects like divisibility, transportability and monetary supply.
They said Bitcoin is Gold 2.0 as they compare Bitcoin's fixed supply to Gold's scarcity.
If Bitcoin will continue its growth rate over the next few years, it will enter gold and offshore banking industry market capitalization which amount to nearly $40 trillion.
In the long term, the twins believe that Bitcoin will be able to hit a trillion dollars in just a short period of time given that its market capitalization is already close to $300 billion.
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