After having fallen from $ 268 per Bitcoin in 24 August , to a low of $ 268 after China devalued its currency and the ' Black Monday event of 24 August , the price of one Bitcoin has now recoved to $ 268 . This article suggests that if Bitcoin implements further capital controls as its economy slows, consumers may well seek to invest in Bitcoin to protect their wealth from the government. We bring all this up in case there is any confusion why Bloomberg just carried a huge centerfold piece explaining why CDS-inventor Blythe Masters has suddenly become the digital currency's most vocal pitchman and is betting it all on bitcoin, in " The effect of using Bitcoin to shield one's wealth may be particularly pronounced in China , as the country is likely to restrict purchases and ownership of gold, the more traditional store of value.
After having fallen from $ 268 per Bitcoin in 24 August , to a low of $ 268 after China devalued its currency and the ' Black Monday event of 24 August , the price of one Bitcoin has now recoved to $ 268 . This article suggests that if Bitcoin implements further capital controls as its economy slows, consumers may well seek to invest in Bitcoin to protect their wealth from the government. The effect of using Bitcoin to shield one's wealth may be particularly pronounced in China , as the country is likely to restrict purchases and ownership of gold, the more traditional store of value.