Bitcoin Price Shoots Past $2,900USD to Hit New All-Time High

The price of Bitcoin has hit a new all-time high, according to the CoinDesk Bitcoin Price Index (BPI).
 
The market average has risen to as high as $2,911.86USD as of press time, BPI data shows, surpassing the previous all-time high of $2,791.69USD set on 25th May.
 
Bitcoin prices began the month below $2,500USD, according to the BPI, trading as low as $2,330.23USD on 1st June. Markets climbed above the $2,700USD mark for the first time this month yesterday, rising steadily during Monday’s trading session.
 
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Bitcoin could hit $100,000 in 10 years

Bitcoin could hit $100,000 in 10 years, says an analyst who correctly called its $2,000 price this year

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.

 
Click here to read the full story on CNBC

Bitcoin may have more than doubled this year, but rival Ethereum is up 2,000 percent

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

Click here to read the full story on CNBC

From July 2017, Bitcoin And Other Digital Currency Will No Longer Be Taxed Twice In Australia

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’.

Thankyou for your continued support.

Click here to read the full story on gizmodo.com

 

Japanese Airline Accepts Bitcoin As Cryptocurrency Fever Spreads Across the Region

Bitcoin is surging in Japan in regards to popularity and trade volume, since the country legitimized the digital currency as a legal form of payment this past April. Now one of Japan’s largest discount airline providers Peach Aviation Ltd. has announced it will be the first Japanese service to accept bitcoin for airline ticket.

Click here to read the full story on bitcoin.com

End of double GST on Digital Currency transactions

It’s official. Scott Morrison has announced the removal of double GST on Digital Currency transactions in the 2017 budget.

From July 1 , 2017, digital currencies will be treated the same way as physical money for GST purposes. That means the current situation, where someone pays GST twice – first on the purchase of the cryptocurrency, then a second time when spending it on goods and services – would no longer apply.

This is great news for the Fintech sector in Australia and puts the country onto a strong footing for future growth and development.

Full details in Business Insider.

Bitcoin’s Price Moon Bound Breaking $1400USD and Climbing

The price of bitcoin has escalated once again to higher levels, surpassing the $1400USD range on a few exchanges. As bitcoin’s successful run continues, many are starting to wonder — How high will the price go?
 
Bitcoin’s value is rising to levels unseen before as the decentralized currency now captures a $23 billion USD market capitalization. The first quarter of 2017 has been good for bitcoin as the price has remained above 4-digits consistently for most of the year. Furthermore, the price per bitcoin has outperformed every fiat currency in existence and surpassed the spot price of one troy ounce of gold as well. People are beginning to realize bitcoin is a safe haven for failing economies, an escape from capital controls, and a digital asset like no other.
 
Click here to read the full story on coindesk.com