The Bitcoin price has experienced fluctuations since its appearance, including big crashes and rises.
The value of bitcoin has grown over $600, which is a 7% increase in the last 24 hours and 34% in May.
The bitcoin had the same value (over $600) two months ago on 21st March. At that time, the price of bitcoin was experiencing a gradual decline and then finally hit a low of $344 on 11th April.
Such a drop of bitcoin price happened after an announcement from Chinese exchanges BTCtrade.com about the freezes of bitcoin deposits, then followed by similar announcement from Huobi and BTC100.org. That was the lowest price of bitcoin since November 2013.
During this month, the price flactuated between $418 and $453, beginning to overtake this level after the week after the Bitcoin2014 Conference. An event took place in Amsterdam, and gathered over 1000 bitcoin enthusiasts from all over the world (50 different countries).
Moreover, this week’s bitcoin price increase follows the news of US satellite service provider DISH Network, that it will start accepting bitcoin payments later this year.
DISH Network Corporation, a Coorado-based company, is one of the beggest content providers and it has over 14 million customers. Moreover, last year the company reported a revenue of 13.9 billion. The numbers make DISH the biggest company to accept bitcoin. Having such a big number of customers, at least some of them are bitcoiners.
Bernie Han, DISH executive vice president and chief operating officer, said: “We always want to deliver choice and convenience for our customers and that includes the method they use to pay their bills.”
Furthermore, Mr. Han added that the company is willing to offer payment option that will meet customer needs:
“Bitcoin is becoming a preferred way for some people to transact and we want to accommodate those individuals.”
DISH has chosen Coinbase as a payment processor company, making exchanges of bitcoin to USD at the moment of transaction. Coinbase says it currently has around 32,000 businesses, however it competes with BitPay that has a similar figure.
DISH mentions that bitcoin payments will become available to customers on mydish.com later this year.