On Jan. 1, 2013, the price of one Bitcoin hovered around $13. A year later, the trading price was around $800, with one prominent bank estimating a fair value as high as $1,300. Some view Bitcoin as a giant bubble fueled by foolish speculation. Others believe it represents a currency designed for the Internet age, offering greater efficiency and accessibility as compared to traditional banking services.
Regardless of who is ultimately right about the future of Bitcoin, “real” money—fiat currency—is being poured into the Bitcoin ecosystem, new startups are entering the field almost every day, and even mainstream entities are getting involved. And with Bitcoin no longer on the fringe, regulators have taken note.
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