If you are a Bitcoin holder you might have noticed that the value of Bitcoin went up sharply on Monday. This is because the first regulated Bitcoin exchanged opened in the United States, which is available for residents in 24 states. Launched by Coinbase and called Coinbase Exchange the new service is designed to bring increased stability to the bitcoin ecosystem.
The Bitcoin crypto-currency has been extremely volatile and many recent high-profile heists have many many people weary of investing in the currency. With a real regulated and insured exchange hopefully we will see a large resurgence of people investing in the currency.
“A proper U.S. exchange that’s trustworthy, that’s insured, we were the first guys to get insurance on our bitcoin in some form, this will really help bring a dampening of volatility,” said Fred Ehrsam, co-founder of Coinbase, while speaking on CNBC’s Squawk on the Street. “I think the New York Stock Exchange sees this as an important trend.”