BBJ Report: Betting on Bitcoin

Digital currency movement beginning to gain traction in Boston

Local investors have been jumping all over the new digital currency known as Bitcoin.

Boston Business Journal editor, David Harris, joined NECN to discuss why so many Boston entrepreneurs are betting big on Bitcoin related start-ups.

Harris says Bitcoin was born out of the 2008 financial crisis and it has been operating as the wild west in regards to the currency being traded.

"There's been a lot of fluctuations in the value of their coin. There's been security issues, but really Boston is becoming a center for actually legitimizing the currency.

Harris says Boston's college setting is a major reason why Bitcoin is on the rise. MIT has been a major player in helping to push Bitcoin's start. The area's great technical ecosystem has also influenced the movement."

There are several places that accept the currency and there are five Bitcoin ATM's scattered about the Boston area.

To get a more in depth take on the new currency, Harris' article can be read in full on the BBJ's website

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