As part of its efforts to boost local employment, the state has recently allocated public funds to help with a local Bitcoin mining firm project, according to the press release from the Office of Montana Governor, Steve Bullock. Bitcoin is perceived as a long-term opportunity for job seekers and Montana is one of the first states in the USA that officially supports the potential of it.
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The president of Russia briefly met with Ethereum inventor Vitalik Buterin during an event last week.
The meeting between Buterin and president Vladimir Putin occurred at the St. Petersburg International Economic Forum, which took place between 1st and 3rd June, following an address to a global group of chief executives.
According to the brief statement released on Friday by the Kremlin:
“Mr. Buterin described the opportunities for using the technologies he developed in Russia. The President supported the idea of establishing ties with possible Russian partners.”
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Bitcoin could make up 10 percent of the $5 trillion average daily volume in the foreign exchange market in 10 years, according to Saxo Bank analyst Kay Van-Petersen. Its market capitalization could grow to $1.75 trillion which would make each Bitcoin worth $100,000.
On January 1, Bitcoin was trading at the day’s high of $1,003.25USD. On Wednesday, it broke through the $2,300USD barrier for the first time to hit a fresh record high of $2,377.32USD, according to CoinDesk, marking a year-to-date rise of 137 percent. To find out what’s driving Bitcoin’s rally.
Meanwhile, bullishness around bitcoin has stoked appetite for other cryptocurrencies. One in particular known as ether is getting traction. Ether has risen from $8.24USD on January 1, to a high of $203.30USD, according to data from Coinmarketcap.com. This represents a 2,367USD percent rise year-to-date
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As part of its push to foster innovation and fintech startup businesses in Australia, the government’s 2017 Federal Budget will cut the GST for purchases of digital currency, allowing Bitcoin and online games’ in-game money to be treated just like plain Australian dollars for tax purposes.
Please note: Independent Reserve did not and will not collect GST on the value of Digital Currency bought or sold during the Bitcoin GST period. For more information on the pre July 2017 GST policy check out our help section under the heading ‘fee schedule’.
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