The little known crypto that trades as (Miota) is up 152% since announcing the deal with Microsoft last week. The graph has quite literally gone vertical as the coin has surged 873% this month. One month ago, it had a market cap of US$1 billion. Now it is just shy of US$8 billion.
Right now talk of bitcoin is everywhere. I can appreciate some may find it tiring. The reason the conversation has merit however, has nothing to do with the surging price. At least, it shouldn’t. The price is merely a consequence of the bitcoin architecture.
Bitcoin is a finite, tradeable commodity that becomes progressively harder to mine until the supply is exhausted. Very few tradeable commodities are finite. You could argue that gold is not truly finite.
Blockchain powered company Power Ledger (POWR) has had a remarkable weekend, rising 116%. There was no one reason for this, but a combination of factors is working in their favour.
Ripple is also backed by Google. And as the company continues to expand its uses, the value of the coins will continue to climb.