The future is looking bright for Bitcoin, which is hovering around the $600 mark (global average) at the time of this writing. This morning, favorable news came out from the frauderal government. While the growing voluntaryist community doesn’t care much of the opinions of the collapsing, violent and coercive government, news like this does positively influence public opinion.
With positive news like this coming out of news outlets like Bloomberg, we are going to see a greater acceptance of Bitcoin in the marketplace. Expect thousands of new businesses to be sprung up in the coming months that accept Bitcoin as payment.
All of that said, surely the octopus now having decreed Bitcoins’ legitimacy, will claim authority to tax and regulate it. And you can probably guess what we think about that.
The Department of Justice and Securities and Exchange Commission are telling a U.S. Senate committee that Bitcoins are legitimate financial instruments, boosting prospects for wider acceptance of the virtual currency.
Representatives from the agencies told the U.S. Senate Committee on Homeland Security and Governmental Affairs ahead of a hearing today that the digital money offers benefits and carries risks, like any other online-payment system, according to letters they released before the meeting.