Following the announcement on October 22nd by the EU Court of Justice which had ruled Bitcoin exempt from taxes, the price of the crypto currency has steadily increased, eventually spiking at over $500 USD. The news sparked a fury of trading across the Bitcoin world while many Bitcoin exchanges in the United States and China reported unprecedented growth in their user bases over a relatively short period of time. While the announcement itself is wonderful news for Bitcoin, the online Bitcoin casino community might be the most excited.
With a massive influx of Bitcoin popularity across the globe, the online Bitcoin casinos have experienced an organic influx of new players. Players who have been using the currency to gamble online soon realized that their winnings are being multiplied virtually overnight due to the rising popularity and speculated value of Bitcoin.
mBit Casino is among those online gaming platforms that has seen one of the largest increases in their player base these past few weeks with unique players showing up in droves with their freshly acquired Bitcoins. Having been in the industry since 2013, the online Bitcoin casino solidified its reputation with the highest payout ever. We got in touch with an mBit Casino representative and asked for their inside perspective on the current Bitcoin climate:
“Every single day since the ruling by the EU Court of Justice we have both new and existing players turn their deposits into considerable fortunes at slots or on the tables. As the price of Bitcoin increases almost exponentially these same players are watching their small fortunes turn into figures that potentially rival their yearly salaries over the period of a few short days.”
– Linda, mBit Casino VIP Manager
The online casino smoothly launched its sportsbook during the summer which has been widely regarded as the premier Bitcoin sportsbook with the best odds, wide league selection, live “in play” betting, parlays and all the critical features players expect from a Vegas sportsbook.
At the time of this writing, the current price of a single Bitcoin is approximately $405 USD. While the price has experienced quite a few fluctuations over the past 24 hours, it seems that the market is slowly agreeing on a specific value to place Bitcoin at as we round off another rollercoaster year for Bitcoin.
Now that investors are placing more faith in the crypto currency than ever before, the sudden surge in Bitcoin prices is a winning situation for everyone involved in the community dedicated to driving its value skywards. 2015 had the most Bitcoin startups of any year in history and while we are yet to feel the effects of this, the price spike is perhaps just a whisper of what’s to come in 2016.