National Virtual Currencies: Not Viable to Some Countries


Seeking Alpha contributor and writer, Daniel Jennings, claims that rigid currency rules in some countries, such as China, Egypt and Zimbabwe, are pushing demand for bitcoin, boosting its price. He says national currencies may no longer be viable in some countries.

Financial observers such as Tyler Durden, a financial blogger at Zero Hedge, have attributed bitcoin’s recent price rise to actions in China, where the government limits the amount of money people can transfer out of the country.

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