The virtual currency known as the Bitcoin has strengthened more than 3000% since January, increasing its popularity to the point where the country’s first automated teller machine (ATM) has been established in the capital city of Bratislava, along with one Bratislava branch of the sandwich shop Subway accepting the digital currency as a form of payment.
In January the virtual coins had the value of around €10 each, however at the time of writing, the exchange rate currently equals €717 per Bitcoin. The money is stored in virtual wallets and goes directly to the buyers and sellers of goods while bypassing banks and authorities, which have been caught off guard by this new and largely unregulated cyber-currency.
Gavin Shoebridge
