Bitcoin iPhone App Downloads Soar in Spain as Price Hits New Record

We all know that Europeans are scared to death about bank account confiscation after the Cyprus fiasco, and it seems some of them are turning to Bitcoin.  I read a fascinating article earlier today that showed how downloads for Bitcoin apps soared in the Spanish iPhone market over the weekend.  Now we see the price surge past 52 as it hits a new record high.  From BGR:

8:40 AM  Interestingly enough, several Bitcoin-related apps started spiking on the Spanish iPhone market over the weekend. Bitcoin Gold shot up in the Spanish iPhone Finance categoryfrom 498 to 72, and another app called Bitcoin Ticker zoomed from 526 to 52 in just one day. A leading service called Bitcoin App jumped from 194 to 151 between Friday and Sunday as Spaniards brooded over the Cyprus crisis.

Some vague rumors about possible savings account confiscations have been swirling around Europe over the past couple of months, but they had been shrugged off as American-style crazy conspiracy theories. Now, Europe is facing the reality of governments suddenly swooping in to take a bite out of even small savings accounts. Oddly enough, an EU official named Dijsselbloem rushed to point out on Saturday evening that further savings account levies cannot be ruled out.

Looks like the Europeans are getting in.

Full article here.

In Liberty,
Mike

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