Market Overview

Bitcoin Push Continues Despite Falling Value

Share:
Bitcoin Push Continues Despite Falling Value

Bitcoin prices continued to stumble, dropping to around $230 in the early hours of Thursday.

The currency was weighed down by concerns about its stability after CoinTerra, a mining firm, filed for bankruptcy. The recent drop in the cryptocurrency’s prices has significantly affected miners, whose operating costs now exceed the value of mining new bitcoins. 

McGill Follows MIT

Despite its loss of value, momentum around mainstream adoption of the currency continued across the globe. Canada’s McGill University is planning to follow in the footsteps of MIT as the students are set to receive an “airdrop” of the coins this spring.

The university’s Cryptocurrency Club is currently raising funds in order to pass out 30 mBTC, or roughly $7, to 600 students later this year in hopes that the gesture will encourage more people to begin using the currency. 

MIT introduced a similar program last fall in which it gave all undergraduate students $100 worth of bitcoin to promote usage.

Bitcoin Donations

On the other side of the Atlantic, the UK’s Green Party is looking to use bitcoins in order to raise campaign funds.

Gulnar Hasnain, the party’s candidate in Vauxhall, says that bitcoin’s aims closely tie in with her party’s objectives and that the integration between the two is a natural step forward for both.

Related Link: Bitcoin's Bumpy Ride Isn't Deterring Optimism

Hasnain is not the first politician to ride the bitcoin wave, several U.S. politicians accepted bitcoin donations last year after the Federal Election Commission decided to allow donations of up to $100 using the cryptocurrency.

Though most reported only minor contributions last year, many see potential for increased support for the technology in future elections.

Posted-In: Bitcoin CoinTerra Gulnar HasnainForex Top Stories Markets Tech Best of Benzinga

 

Related Articles

View Comments and Join the Discussion!