Firms buying Bitcoin to pay cyber ransoms unlikely cause of price jump: CoinBase. – Bitcoints

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Published on May 26th, 2017 | by bitcoin

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Firms buying Bitcoin to pay cyber ransoms unlikely cause of price jump: CoinBase.

The ransomware that started crippling computers on May 12 demands bitcoin from victims.
It’s unlikely we’d see businesses out there moving the market to acquire a couple thousand dollars of bitcoin,” White said on “Squawk Box.”
White said bitcoin and other cryptocurrencies are being viewed as “digital gold,” a store of value rather than a payment system.
Bitcoin is a kind of token for which transactions are recorded in a secure accounting system called blockchain.
While operating a digital currency exchange, Coinbase also acts as a platform where consumers and merchants can conduct transactions in bitcoin.

Source: News.google.com

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