Bitcoin News Mash-Up: Latin American Exchange Launched; Mark T Williams’ Failed Predictions; and More

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Bitcoin News

The following are the major Bitcoin events that has taken place between May 31st and June 1st

New Latin American Cryptocurrency Exchange Launched
Bitex.la, the new Argentinian Bitcoin and Litecoin exchange, was officially launched with an objective to provide the Latin American Bitcoin market with the first ever “regional exchange site”. The organization will surely come handy for its local who are presently faced with its currency’s overlong marked devaluation.

In such circumstances, it is not surprising that a new Bitcoin exchange will be well received.

University Teacher Tenacious over His Failed Bitcoin Prediction
Last December, Professor Mark T. Williams of Boston University School of Management made an ear-grabbing prediction, saying that that by the end of June 2014 Bitcoin will lose 99% of its value, and will subsequently reach to around $10. However, the price of bitcoin remains well above this figure: in May, it even grew by about 34%, reaching $600.

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Known Bitcoin analysts recently mocked Williams over his failed predictions, in response to which the university professor remained firm. He further told Coindesk in an interview the following: “I continue to stick to my 2013 prediction that bitcoin is grossly overpriced and the price will eventually adjust dramatically downward as the priced-for-perfection expectations set by bitcoin promoters cannot be met.”

BitFury Receives $20 million in Funding
BitFury, the mining hardware manufacturing company, announced it has received $20 million in funding, which experts are saying to be one of the largest investments in the Bitcoin industry. Among those who contributed capital to BitFury are Binary Financial, Crypto Currency Partners, Georgian C-Investment Fund (GCF), Queensbridge Venture Partners and ZAD Investment Company.

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com

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