Bitcoin Continues to Rise in Value, Despite International Doubts

Paul AinsworthPaul AinsworthOctober 30, 20171min

The record-breaking rise of bitcoin is continuing unabated, with a new high value of $6,300 marked as October drew to a close.

The cryptocurrency is surging in popularity, but its attraction is not translating to all corners of the world.

Despite neighbours in the United Arab Emirates taking bitcoin to their business hearts – with Dubai’s first ever real estate project to be priced in the digital money launched in September – Saudi Arabian Prince Alwaleed bin Tahal has publicly denounced it.

The billionaire investor has dubbed it the “next Enron”, and predicted it will implode, adding in a recent interview:

“It just doesn’t make sense. This thing is not regulated, it’s not under control.”

Meanwhile, doubts about bitcoin’s ability to hold its value as the market reaches a value of $100 billion have also surfaced in South East Asia.

The State Bank of Vietnam has banned the use of the virtual currency as payment, describing it as “not lawful”.

The move follows China’s shuttering of bitcoin exchanges in September, which caused a temporary drop in its value.


Paul Ainsworth

Paul Ainsworth

Experienced Irish journalist and former newspaper editor now helming executive editorial duties with Customer Experience Magazine, the UK's premier online source for Customer Experience news, features, and opinion, along with its sister site, CXM World.




Inform. Inspire. Include.
A free way to improve your business.

Customer Experience Magazine is the online magazine packed full of industry news, blogs, features, reports, case studies, video bites and international stories all focusing on customer experience.


CONTACT US

CALL US ANYTIME



Contact Information

For article submissions:
Editor
Paul Ainsworth
editorial@cxm.co.uk

For general inquiries, advertising and partnership information:
advertising@cxm.co.uk
Tel: 0207 1932 428

For Masterclass enquiries:
antonija@cxm.co.uk
Tel: 0207 1937 483

Customer Experience Magazine Limited
Acacia Farm, Lower Road,
Royston, Herts, SG8 0EE
Company number: 7511106


Newsletter