Estonia Holds Successful Bitcoin Week amidst Crackdown on the Digital Currency

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Estonia Holds Successful Bitcoin Week amidst Crackdown on the Digital Currency
Estonia Holds Successful Bitcoin Week amidst Crackdown on the Digital Currency

Estonia Holds Successful Bitcoin Week amidst Crackdown on the Digital Currency

Despite the fact that the Estonian government does not have a favorable opinion about Bitcoin, the supporters of the digital currency held ‘Bitcoin Week’ quite successfully. The cryptocurrency becoming increasingly popular in the country and that was very much visible in the recently held Bitcoin focus week in the capital, Tallinn.

The organizers of the event say that they held Bitcoin Week in the country to boost popularity of the digital currency in the Baltic state, which according to them has seen a tough stance from its authorities in the past few months. For instance, de Voogd which is one of the first Bitcoin investors was targeted by the Estonian police.

The local reports claim that the week-long series of events that was launched on 18th May has been a huge success. It was launched by a number of Estonia-based Bitcoin advocates like Silver Meikar, former Estonian MP and Finnish businessman Risto Pietilä. The two supporters are expected to help the digital currency reach to the new sections in the market.

Earlier in their statements Meikar and Pietilä proposed a plan to open an educational and thematic centre to promote increased use of digital currency in the Estonian economy. Otto de Voogd, one of the country’s leading Bitcoin entrepreneurs is the one who thinks Bitcoin has potential and used for better transactional experience.

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Bitcoin has caught the attention of thousands of Estonia-based businesses who have shown their interest in enabling payments in the cryptocurrency. The entire duration when the Bitcoin focus week was held, there were several events that were designed to bring together Bitcoin enthusiasts and those who want to find out more about how digital currencies work.

When the Bitcoin Week started a number of Bitcoin-related workshops were hosted by Estonia’s National Library on Monday. The event was followed by several similar activities e.g. on Wednesday, Tallinn University hosted a conference and talk on ‘Has Bitcoin Come to Stay?‘wherein Voogd and several other experts gave their presentations.

The one-week program helped participants understand the concept of digital currency and according to the local media; the conference was concluded with a panel discussion by the featured speakers. The week also saw the first Bitcoin ATM from Lamassu in Estonia. A small amount of money was charged from participants for the Bitcoin Week.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com