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Bitcoin Moving Closer to Legitimacy with another Milestone

Bitcoin Moving Closer to Legitimacy with another Milestone

This comes as good news to all the tech and digital currency enthusiasts that Bitcoin has achieved yet another milestone inching it closer to legitimacy.

On last Monday May 18th , an exciting announcement was made that cheered the bitcoin community that bitcoin based security that comes under the purview of being regulated has begun trading at Stockholm.

The Surge of Bitcoin

The name of the security is Bitcoin Tracker One saw a rise in its initial trading session when it closed at 9.73 krona after opening at 9.69. This security made a listing at Nasdaq exchange based in Stockholm called Nasdaq OMX Nordic.

Adam Kostyal, SVP and European Listing’s head in Nasdaq said on Monday in a news that Bitcoin Tracker Note is constituted as exchange traded note and has been created with the intention of attracting legitimate retail as well as institutional investors who feel safer by investing in something that is well regulated and transparent.

This latest listing is just one of the many achievements that bitcoin has made in the last couple of weeks. Even Wall Street has expressed interest in the underlying technology that powers bitcoin’s private market in Nasdaq, Blockchain, and are currently doing tests as to how they can use this novel technology.

Only recently, New York’s Department of Financial Services issued the first charter to ItBit, a Bitcoin Startup Company. This is the first of its kind trust charter ever issued to a bitcoin company.

The hurdles

Since the fall of 2013, Bitcoin has experienced a wild growth in its valuation and it one reaching almost a $1000 mark! However, after millions of dollars worth of Bitcoins was hacked and stolen, the value of this digital currency suffered significantly. Last summer, the hackers slithered into the famous Bitcoin exchange, Mt. Gox and stole huge amounts of money from customers leading to great losses.

As of now, the Bitcoin price is trading at $236 which is reflected across all the major bitcoin exchanges.

Bitcoin may not be one of the favourite currencies of the market. However, it is gradually getting there one step at a time. With markets slowly adopting the digital currency, there will soon be tolerance amongst the users t acknowledge bitcoins as a legitimate currency for payments and not just a fad digital currency.

Click Bitcoin Maps to get the locations of Bitcoin ATM maps.

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