The recent positive statements by US Treasury officials regarding the legality of virtual currencies buoyed investor confidence only to have it yanked back down by Chinese officials. In a nutshell, China has barred banks and most other financial institutions with the exception of trade exchanges from conducting business in bitcoins. But the policy of allowing citizens to own and trade digital currency continues. A coinciding whipsawing in the price of the crytopcurrency has accompanied all this recent notoriety. The buzz is building about a proposed Bitcoin ETF with headline grabbing backers like the Winklevoss twins of Facebook. There is definitely a surplus of pent up demand from investors and traders alike. Many of whom although not quite ready to trade in their dollars or credit cards for a bitcoin wallet are however chomping at the bitcoin for a Bitcoin ETF.Bitcoin Exchange Rate
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