Can gambling be a cause behind BTC’s growth?

The Beauty of Bitcoin: Loved by Gamers, Gamblers and All Kinds of Other People

The rise and rise of Bitcoin has completely confounded many of those in the financial sector. For years, they have been preaching the downfall of this international, untraceable currency. And for years, they have consistently been wrong. Within the past month or so, Bitcoin has been making yet another rousing comeback, with skyrocketing values now making headlines. At one point this week, the value of one BTC has rallied to heights of almost $1,200.

What Is the Mysterious Cause Behind BTC’s Tremendous Growth?

Those who follow Bitcoin are aware that its value does tend to fluctuate from time to time, but this latest development is wild, even by the different standards for BTC. Analysts are pointing to a very traditional cause for all of the Bitcoin love recently—supply and demand.

The Allure of Using BTC While Gambling

Although there are a number of situations in which using Bitcoin is undoubtedly an attractive option, it’s hard to think of many that are as clear-cut as gambling. For those who prefer to do their gambling with funds that are outside of their traditional bank accounts, Bitcoin is a truly unstoppable option. And since gamblers love Bitcoin, it should probably come as no surprise that casinos now love the crytocurrency as well.

Signs That Bitcoin Is Transforming the Gaming Industry

Recently, a Bitcoin ATM company installed two more BTC ATMs in Las Vegas, a clear-cut sign that the currency is here to stay. One of these ATMs was even installed directly in a casino, allowing gamblers to sell off some bitcoin for cold, hard cash with which they can place their bets. Those who travel to Las Vegas from far and wide enjoy the relative ease with which they can access funds. Once they make a request and receive a receipt from the machine, it’s usually not more than 10 minutes before they can get their cash.

International travelers particularly enjoy the fact that they will not have exchange rates tacked onto their Bitcoin ATM transactions. For those who spend a lot of money in foreign countries, such fees can really add up over the course of a trip. The beauty of using Bitcoin is that this is not a concern; ATM users will only be charged a nominal fee for cashing out their BTC.

Bitcoin and Gaming: An Extraordinary Combination

At the end of the day, casino owners just want to retain loyal customers and attract new gamblers. Bitcoin allows them to do both, so it’s a win-win for the casino. Because the gaming industry is so strong—and is truly one of the oldest industries in the world—it makes sense that its power could be the driving force behind the recent surge in BTC currency.

Only Time Will Tell

If gambling is the cause behind the recent stratospheric rise of BTC, then analysts should remain bullish on Bitcoin. As gaming rarely declines in popularity, the cost for BTC should remain relatively stable. If, however, there is another mystery factor that is propelling prices upward, then it stands to reason that we will see the ups and downs to which we have become so accustomed. The only surefire way to know is to wait it out, but it does seem extremely likely that gamblers’ growing affinity for BTC is what is behind this surge.

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