Interest in Bitcoin Continues to Grow

January 9, 2014, Written By Bill Hardekopf

The fascination with the digital currency Bitcoin continues to increase.

Blockchain.info, one of the leading online wallet services for digital currency, reports they now have over one million Bitcoin wallets in circulation. This is a substantial increase from the 500,000 wallets in circulation in November.

A Bitcoin wallet is an online account that holds your Bitcoins. Wallets can interact with one another if you want to transfer some of your Bitcoins to someone else. There are wallet apps available for both mobile phones and computers, depending on how you want to manage your money.

Bitcoin started 2013 with 100,000 users. Each user can possess more than one Bitcoin wallet. Some choose to maintain three or more. Recent statistics show more people are beginning to trust Bitcoin and the financial protection its services have to offer. Whether this is a fad or a revolution is yet to be determined.

The gaming company Zynga is the latest in a chain of organizations now accepting payments via Bitcoin.

Bitcoin prices as of last Friday were $1,025 on the Mt. Gox exchange, up from $1,000 just before the Zynga affiliation.

What does all this mean for the credit card community? Are some people exchanging their plastic for megabytes? We’ve all seen the vulnerability of the credit card system, especially here in America. The Target breach is a prime example of how a seemingly secure company could still be subject to a credit card breach. These security issuers could be sparking a slight increase in this digital currency.



The information contained within this article was accurate as of January 9, 2014. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.