Bitcoin Continues To Soar Into The Stratosphere

Published on 2017-08-27 19:09:00

In early 2016, Bitcoin became an accepted deposit method at several online gaming sites.

This was music to the ears of many players who were having trouble navigating the deposit/withdrawal landscape in a post-"Black Friday" environment - instead of high fees and long waits, online poker players were now able to fund their accounts immediately with hardly any fees incurred.

That was the promise of Bitcoin - anonymous, quick and very cheap transfers of money. For the online gaming industry, this was a match made in heaven.

At this time, many online poker players decided to dive into the Bitcoin world. After all, it was quick and easy and solved a major issue that players had when it came to funding their online poker accounts.

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These players who jumped into the Bitcoin pool in early 2016 were rewarded, as the price of the cryptocurrency would begin to soar shortly after.

In early 2016, the price of a single Bitcoin was approximately $400. Fast forward to August of 2017, and one Bitcoin will cost you roughly $4,400.

Many poker players have seen significant gains on their Bitcoin holdings. In many cases, this led to an interest in other cryptocoins, which resulted in more gains in Ethereum and others.

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For the poker community, the extreme gain in Bitcoin prices came at exactly the right time. It was a bit of a lucky break, though after the luck that poker players have had over the past 6-7 years (especially those living in the United States), they'll gladly take it.

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Filed Under: Miscellaneous Poker Articles